PSA vs. O
PSA (Public Storage) and O (Realty Income Corporation) are both stocks. Both are in the Real Estate sector — PSA in REIT - Industrial, O in REIT - Retail. Over the past 10 years, PSA returned 7.31%/yr vs 4.89%/yr for O. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
PSA vs. O - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PSA achieves a 26.88% return, which is significantly higher than O's 13.70% return. Over the past 10 years, PSA has outperformed O with an annualized return of 7.31%, while O has yielded a comparatively lower 4.89% annualized return.
PSA
- 1D
- 0.38%
- 1M
- 7.56%
- YTD
- 26.88%
- 6M
- 21.06%
- 1Y
- 14.03%
- 3Y*
- 8.56%
- 5Y*
- 6.47%
- 10Y*
- 7.31%
O
- 1D
- 1.31%
- 1M
- 1.67%
- YTD
- 13.70%
- 6M
- 11.57%
- 1Y
- 14.88%
- 3Y*
- 6.59%
- 5Y*
- 3.49%
- 10Y*
- 4.89%
PSA vs. O - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSA Public Storage | 26.88% | -9.69% | 2.09% | 13.60% | -20.20% | 66.63% | 12.69% | 8.96% | 0.62% | -2.89% |
O Realty Income Corporation | 13.70% | 12.20% | -2.11% | -4.55% | -7.38% | 23.95% | -11.60% | 21.27% | 15.94% | 3.67% |
Correlation
The correlation between PSA and O is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 1994 | 0.54 |
The correlation between PSA and O has been stable across timeframes, ranging from 0.54 to 0.61 - a consistent structural relationship.
Fundamentals
PSA:
$10.84
O:
$1.17
PSA:
30.08
O:
53.41
PSA:
1.81
O:
4.35
PSA:
11.80
O:
7.22
PSA:
$4.86B
O:
$5.92B
PSA:
$2.95B
O:
$3.89B
PSA:
$3.38B
O:
$3.93B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PSA vs. O — Risk / Return Rank
PSA
O
PSA vs. O - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Public Storage (PSA) and Realty Income Corporation (O). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PSA | O | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.15 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 1.29 | -0.46 |
| Martin ratioReturn relative to average drawdown | 1.82 | 3.12 | -1.30 |
Loading charts...
Drawdowns
PSA vs. O - Drawdown Comparison
The maximum PSA drawdown since its inception was -60.19%, which is greater than O's maximum drawdown of -48.45%. Use the drawdown chart below to compare losses from any high point for PSA and O.
Loading charts...
Drawdown Indicators
| PSA | O | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.19% | -48.45% | -11.74% |
Max Drawdown (1Y)Largest decline over 1 year | -16.20% | -11.10% | -5.10% |
Max Drawdown (3Y)Largest decline over 3 years | -25.62% | -26.49% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -37.93% | -34.48% | -3.45% |
Max Drawdown (10Y)Largest decline over 10 years | -37.93% | -48.28% | +10.35% |
Current DrawdownCurrent decline from peak | -5.92% | -5.94% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -15.77% | -9.20% | -6.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.37% | 4.58% | +2.79% |
Volatility
PSA vs. O - Volatility Comparison
Public Storage (PSA) has a higher volatility of 7.03% compared to Realty Income Corporation (O) at 5.29%. This indicates that PSA's price experiences larger fluctuations and is considered to be riskier than O based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PSA | O | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.03% | 5.29% | +1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 17.72% | 11.98% | +5.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.80% | 16.21% | +6.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.87% | 18.92% | +4.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.46% | 25.64% | -2.18% |
Dividends
PSA vs. O - Dividend Comparison
PSA's dividend yield for the trailing twelve months is around 2.76%, less than O's 5.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
O Realty Income Corporation | 5.16% | 6.19% | 5.37% | 5.33% | 4.68% | 3.87% | 4.51% | 3.69% | 4.19% | 4.45% | 4.18% | 4.41% |
PSA Public Storage | 2.76% | 4.62% | 4.01% | 3.93% | 7.55% | 2.14% | 3.46% | 3.76% | 3.95% | 3.83% | 3.27% | 2.62% |
Financials
PSA vs. O - Financials Comparison
This section allows you to compare key financial metrics between Public Storage and Realty Income Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PSA vs. O - Profitability Comparison
PSA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Public Storage reported a gross profit of 877.80M and revenue of 1.22B. Therefore, the gross margin over that period was 72.1%.
O - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Realty Income Corporation reported a gross profit of 0.00 and revenue of 1.55B. Therefore, the gross margin over that period was 0.0%.
PSA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Public Storage reported an operating income of 474.28M and revenue of 1.22B, resulting in an operating margin of 39.0%.
O - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Realty Income Corporation reported an operating income of 0.00 and revenue of 1.55B, resulting in an operating margin of 0.0%.
PSA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Public Storage reported a net income of 529.38M and revenue of 1.22B, resulting in a net margin of 43.5%.
O - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Realty Income Corporation reported a net income of -9.17M and revenue of 1.55B, resulting in a net margin of -0.6%.
Frequently Asked Questions
PSA and O have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSA has higher volatility (7.03%) compared to O (5.29%). In terms of maximum drawdown, PSA dropped -60.19% vs O's -48.45%.
O currently has the higher Sharpe Ratio (0.88 vs 0.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for PSA and O
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer