O vs SJM: Correlation
Measured on weekly returns over the past three years, Realty Income (O) and J.M. Smucker Company (The) (SJM) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are O and SJM?
Across a 3-year window, the weekly returns of O and SJM correlate at 0.41, moderate. Recent behaviour matches the longer record: 0.35 over 1 year against 0.41 over 3. Stretching to 5 years gives 0.35, with an annualized covariance of 184.5 %².
By 3-year correlation, SJM places #31 of the 44 assets tracked against O. The last year tells two different stories: SJM led by 18.6 percentage points, +11.3% for O against +29.9% for SJM. On a rolling one-year basis the correlation drifted between 0.17 and 0.65, a moderate band. Note the risk asymmetry: SJM runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SJM: side by side
| O (Realty Income) | SJM (J.M. Smucker Company (The)) | |
|---|---|---|
| 1-year return | +11.3% | +29.9% |
| 5-year return | +14.5% | +28.2% |
| Volatility (ann.) | 17.3% | 26.0% |
| Beta vs S&P 500 | 0.21 | 0.21 |
| Max drawdown (3Y) | -19.3% | -32.5% |
| Market cap | $58.5B | $14.1B |
| P/E (trailing) | 45.4 | 61.3 |
| Dividend yield | 5.20% | 3.38% |
| Sector / category | Real Estate | Consumer Staples |
Year-by-year returns
| Year | O | SJM |
|---|---|---|
| 2022 | -7.4% | +20.1% |
| 2023 | -4.5% | -17.8% |
| 2024 | -2.1% | -9.6% |
| 2025 | +12.2% | -7.6% |
| 2026 | +13.0% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are O and SJM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between O and SJM?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.35 over the last year and 0.35 over 5 years.
Is SJM a good diversifier for O?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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-sjm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/o-vs-sjm/)
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Related comparisons
Hubs: O correlations · SJM correlations
