O vs REG: Correlation
Measured on weekly returns over the past three years, Realty Income (O) and Regency Centers (REG) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are O and REG?
Over the past 3 years, O and REG moved with a correlation of 0.59, which is moderate. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 182.0 %².
Among the 44 assets we track against O, REG ranks #19 by 3-year correlation. Neither side won the trailing year by much: +11.3% against +8.4%. Across three years, the rolling one-year figure varied moderately, from 0.36 to 0.80.
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 REG: side by side
| O (Realty Income) | REG (Regency Centers) | |
|---|---|---|
| 1-year return | +11.3% | +8.4% |
| 5-year return | +14.5% | +35.2% |
| Volatility (ann.) | 17.3% | 17.8% |
| Beta vs S&P 500 | 0.21 | 0.34 |
| Max drawdown (3Y) | -19.3% | -15.1% |
| Market cap | $58.5B | $14.1B |
| P/E (trailing) | 45.4 | 25.5 |
| Dividend yield | 5.20% | 3.89% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | O | REG |
|---|---|---|
| 2022 | -7.4% | -13.6% |
| 2023 | -4.5% | +11.9% |
| 2024 | -2.1% | +14.9% |
| 2025 | +12.2% | -2.8% |
| 2026 | +13.0% | +11.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are O and REG good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between O and REG?
As of 2026-08-27, the correlation of weekly returns between O and REG is 0.59 over 3 years, 0.68 over 1 year and 0.64 over 5 years.
Is REG a good diversifier for O?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/o-vs-reg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/o-vs-reg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: O correlations · REG correlations
