O vs PLD: Correlation
Measured on weekly returns over the past three years, Realty Income (O) and Prologis (PLD) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are O and PLD?
Across a 3-year window, the weekly returns of O and PLD correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Stretching to 5 years gives 0.63, with an annualized covariance of 269.8 %².
Among the 44 assets we track against O, PLD ranks #18 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PLD outperformed by 18.7 percentage points (+11.3% for O against +30.0% for PLD). Across three years, the rolling one-year figure varied moderately, from 0.47 to 0.79.
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 PLD: side by side
| O (Realty Income) | PLD (Prologis) | |
|---|---|---|
| 1-year return | +11.3% | +30.0% |
| 5-year return | +14.5% | +22.5% |
| Volatility (ann.) | 17.3% | 25.8% |
| Beta vs S&P 500 | 0.21 | 0.90 |
| Max drawdown (3Y) | -19.3% | -31.4% |
| Market cap | $58.5B | $137.9B |
| P/E (trailing) | 45.4 | 31.7 |
| Dividend yield | 5.20% | 2.92% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | O | PLD |
|---|---|---|
| 2022 | -7.4% | -31.3% |
| 2023 | -4.5% | +21.6% |
| 2024 | -2.1% | -18.1% |
| 2025 | +12.2% | +25.1% |
| 2026 | +13.0% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are O and PLD good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between O and PLD?
The O/PLD correlation stands at 0.60 on a 3-year window (1 year: 0.65, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is PLD a good diversifier for O?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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-pld.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: O correlations · PLD correlations
