O vs PDEX: Correlation
Measured on weekly returns over the past three years, Realty Income (O) and Pro-Dex, Inc. (PDEX) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are O and PDEX?
Over the past 3 years, O and PDEX moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.20 over 3. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -207.1 %².
Out of 44 assets tracked against O, PDEX lands near the bottom at #40. The last year tells two different stories: PDEX led by 31.2 percentage points, +11.3% for O against +42.5% for PDEX. Risk is not evenly split, since PDEX carries 3.4 times the volatility of the other side.
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.
O vs PDEX: side by side
| O (Realty Income) | PDEX (Pro-Dex, Inc.) | |
|---|---|---|
| 1-year return | +11.3% | +42.5% |
| 5-year return | +14.5% | +152.4% |
| Volatility (ann.) | 17.3% | 59.6% |
| Beta vs S&P 500 | 0.21 | 0.17 |
| Max drawdown (3Y) | -19.3% | -65.3% |
| Market cap | $58.5B | $0.2B |
| P/E (trailing) | 45.4 | 17.5 |
| Dividend yield | 5.20% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | O | PDEX |
|---|---|---|
| 2022 | -7.4% | -31.5% |
| 2023 | -4.5% | +10.2% |
| 2024 | -2.1% | +166.8% |
| 2025 | +12.2% | -17.7% |
| 2026 | +13.0% | +68.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are O and PDEX good diversifiers for each other?
Yes. With a correlation of -0.20, O and PDEX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between O and PDEX?
The O/PDEX correlation stands at -0.20 on a 3-year window (1 year: -0.22, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is PDEX a good diversifier for O?
Yes. With a correlation of -0.20, O and PDEX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/o-vs-pdex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/o-vs-pdex/)
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Related comparisons
Hubs: O correlations · PDEX correlations
