SLG vs VNO: Correlation
Measured on weekly returns over the past three years, SL Green Realty Corp (SLG) and Vornado Realty Trust (VNO) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLG and VNO?
Across a 3-year window, the weekly returns of SLG and VNO correlate at 0.85, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Stretching to 5 years gives 0.89, with an annualized covariance of 1362.9 %².
In SLG's tracked universe of 14 assets, VNO sits right near the top at #1. Neither side won the trailing year by much: +6.7% against +5.1%.
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.
SLG vs VNO: side by side
| SLG (SL Green Realty Corp) | VNO (Vornado Realty Trust) | |
|---|---|---|
| 1-year return | +6.7% | +5.1% |
| 5-year return | +15.1% | +8.4% |
| Volatility (ann.) | 41.1% | 39.1% |
| Beta vs S&P 500 | 1.33 | 1.34 |
| Max drawdown (3Y) | -53.9% | -43.9% |
| Market cap | $4.4B | $7.7B |
| P/E (trailing) | – | 1290.7 |
| Dividend yield | 5.65% | 1.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SLG | VNO |
|---|---|---|
| 2022 | -50.9% | -46.7% |
| 2023 | +48.8% | +39.5% |
| 2024 | +58.3% | +51.3% |
| 2025 | -29.0% | -19.1% |
| 2026 | +29.8% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLG and VNO good diversifiers for each other?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between SLG and VNO?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.81 over the last year and 0.89 over 5 years.
Is VNO a good diversifier for SLG?
Not really. At 0.85, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.85 mean?
A reading of 0.85 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/slg-vs-vno.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/slg-vs-vno/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SLG correlations · VNO correlations
