OLP vs PSA: Correlation
Measured on weekly returns over the past three years, One Liberty Properties, Inc. (OLP) and Public Storage (PSA) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLP and PSA?
Over the past 3 years, OLP and PSA moved with a correlation of 0.64, which is strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.64 over 3. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 315.8 %².
Among the 28 assets we track against OLP, PSA ranks #8 by 3-year correlation. Their 12-month results are close: +13.0% for OLP against +11.3% for PSA.
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.
OLP vs PSA: side by side
| OLP (One Liberty Properties, Inc.) | PSA (Public Storage) | |
|---|---|---|
| 1-year return | +13.0% | +11.3% |
| 5-year return | +11.9% | +20.9% |
| Volatility (ann.) | 21.5% | 23.0% |
| Beta vs S&P 500 | 0.49 | 0.59 |
| Max drawdown (3Y) | -28.8% | -25.6% |
| Market cap | $0.5B | $58.1B |
| P/E (trailing) | 15.3 | 30.3 |
| Dividend yield | 7.44% | 3.78% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | OLP | PSA |
|---|---|---|
| 2022 | -32.3% | -20.2% |
| 2023 | +7.6% | +13.6% |
| 2024 | +33.5% | +2.1% |
| 2025 | -19.6% | -9.7% |
| 2026 | +23.7% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLP and PSA good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between OLP and PSA?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.61 over the last year and 0.56 over 5 years.
Is PSA a good diversifier for OLP?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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/olp-vs-psa.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/olp-vs-psa/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OLP correlations · PSA correlations
