O vs WPC: Correlation
How closely do Realty Income (O) and W. P. Carey Inc. REIT (WPC) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are O and WPC?
Over the past 3 years, O and WPC moved with a correlation of 0.73, which is strong. Recent behaviour matches the longer record: 0.79 over 1 year against 0.73 over 3. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 263.8 %².
Within O's tracked universe of 44 assets, WPC comes in at #5 by 3-year correlation. Neither side won the trailing year by much: +11.3% against +11.2%.
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 WPC: side by side
| O (Realty Income) | WPC (W. P. Carey Inc. REIT) | |
|---|---|---|
| 1-year return | +11.3% | +11.2% |
| 5-year return | +14.5% | +23.0% |
| Volatility (ann.) | 17.3% | 20.9% |
| Beta vs S&P 500 | 0.21 | 0.30 |
| Max drawdown (3Y) | -19.3% | -19.6% |
| Market cap | $58.5B | $16.0B |
| P/E (trailing) | 45.4 | 24.4 |
| Dividend yield | 5.20% | 5.20% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | O | WPC |
|---|---|---|
| 2022 | -7.4% | +0.5% |
| 2023 | -4.5% | -9.9% |
| 2024 | -2.1% | -10.6% |
| 2025 | +12.2% | +25.0% |
| 2026 | +13.0% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are O and WPC good diversifiers for each other?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between O and WPC?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.79 over the last year and 0.74 over 5 years.
Is WPC a good diversifier for O?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.73 mean?
A reading of 0.73 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/o-vs-wpc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/o-vs-wpc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: O correlations · WPC correlations
