JNJ vs O: Correlation
How closely do Johnson & Johnson (JNJ) and Realty Income (O) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JNJ and O?
On 3 years of weekly data the JNJ/O correlation comes out at 0.57, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.57 over 3. The 5-year figure is 0.49, and annualized covariance runs at 182.7 %².
In JNJ's tracked universe of 48 assets, O sits right near the top at #2. The last year tells two different stories: JNJ led by 42.4 percentage points, +53.7% for JNJ against +11.3% for O. The relationship is regime-dependent: the rolling one-year correlation swung between 0.21 and 0.72 over the past three years, so this pair behaves very differently depending on the market environment.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
JNJ vs O: side by side
| JNJ (Johnson & Johnson) | O (Realty Income) | |
|---|---|---|
| 1-year return | +53.7% | +11.3% |
| 5-year return | +76.0% | +14.5% |
| Volatility (ann.) | 18.5% | 17.3% |
| Beta vs S&P 500 | 0.05 | 0.21 |
| Max drawdown (3Y) | -14.4% | -19.3% |
| Market cap | $640.5B | $58.5B |
| P/E (trailing) | 30.9 | 45.4 |
| Dividend yield | 1.94% | 5.20% |
| Sector / category | Health Care | Real Estate |
Year-by-year returns
| Year | JNJ | O |
|---|---|---|
| 2022 | +6.0% | -7.4% |
| 2023 | -8.6% | -4.5% |
| 2024 | -4.8% | -2.1% |
| 2025 | +47.5% | +12.2% |
| 2026 | +30.5% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JNJ and O good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between JNJ and O?
As of 2026-08-27, the correlation of weekly returns between JNJ and O is 0.57 over 3 years, 0.52 over 1 year and 0.49 over 5 years.
Is O a good diversifier for JNJ?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jnj-vs-o.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JNJ correlations · O correlations
