SAFE vs. SPG
SAFE (Safehold Inc.) and SPG (Simon Property Group, Inc.) are both stocks. Both are in the Real Estate sector — SAFE in REIT - Diversified, SPG in REIT - Retail. Over the past 5 years, SAFE returned -24.60%/yr vs 14.96%/yr for SPG. At a 0.41 correlation, their price movements are largely independent.
Performance
SAFE vs. SPG - Performance Comparison
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Returns By Period
In the year-to-date period, SAFE achieves a 10.12% return, which is significantly lower than SPG's 11.23% return.
SAFE
- 1D
- -1.46%
- 1M
- 2.69%
- YTD
- 10.12%
- 6M
- 11.72%
- 1Y
- 4.79%
- 3Y*
- -14.39%
- 5Y*
- -24.60%
- 10Y*
- —
SPG
- 1D
- 0.01%
- 1M
- 1.01%
- YTD
- 11.23%
- 6M
- 14.33%
- 1Y
- 32.08%
- 3Y*
- 30.83%
- 5Y*
- 14.96%
- 10Y*
- 5.39%
SAFE vs. SPG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAFE Safehold Inc. | 10.12% | -22.47% | -18.25% | -15.60% | -63.41% | 11.15% | 82.46% | 118.07% | 10.49% | -5.74% |
SPG Simon Property Group, Inc. | 11.23% | 12.94% | 26.92% | 29.24% | -21.91% | 95.72% | -38.64% | -6.74% | 2.55% | 10.42% |
Correlation
The correlation between SAFE and SPG is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017 | 0.41 |
The correlation between SAFE and SPG shifts across timeframes, from 0.41 (all time) to 0.54 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
SAFE:
$1.59
SPG:
$17.14
SAFE:
9.38
SPG:
11.88
SAFE:
0.70
SPG:
0.47
SAFE:
2.72
SPG:
7.50
SAFE:
$392.62M
SPG:
$6.65B
SAFE:
$382.95M
SPG:
$5.71B
SAFE:
$335.22M
SPG:
$7.77B
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Return for Risk
SAFE vs. SPG — Risk / Return Rank
SAFE
SPG
SAFE vs. SPG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Safehold Inc. (SAFE) and Simon Property Group, Inc. (SPG). 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.
| SAFE | SPG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.30 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.21 | 2.79 | -2.58 |
| Martin ratioReturn relative to average drawdown | 0.47 | 10.06 | -9.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SAFE | SPG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.14 | 1.77 | -1.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.61 | 0.57 | -1.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | 0.38 | -0.39 |
Drawdowns
SAFE vs. SPG - Drawdown Comparison
The maximum SAFE drawdown since its inception was -84.70%, which is greater than SPG's maximum drawdown of -77.00%. Use the drawdown chart below to compare losses from any high point for SAFE and SPG.
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Drawdown Indicators
| SAFE | SPG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.70% | -77.00% | -7.70% |
Max Drawdown (1Y)Largest decline over 1 year | -22.90% | -11.54% | -11.36% |
Max Drawdown (3Y)Largest decline over 3 years | -51.87% | -24.32% | -27.55% |
Max Drawdown (5Y)Largest decline over 5 years | -84.70% | -45.84% | -38.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.00% | — |
Current DrawdownCurrent decline from peak | -81.69% | -1.93% | -79.76% |
Average DrawdownAverage peak-to-trough decline | -39.94% | -13.85% | -26.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.30% | 3.20% | +7.10% |
Volatility
SAFE vs. SPG - Volatility Comparison
Safehold Inc. (SAFE) has a higher volatility of 9.05% compared to Simon Property Group, Inc. (SPG) at 5.45%. This indicates that SAFE's price experiences larger fluctuations and is considered to be riskier than SPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAFE | SPG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.05% | 5.45% | +3.60% |
Volatility (6M)Calculated over the trailing 6-month period | 21.91% | 13.61% | +8.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.55% | 18.25% | +15.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.39% | 26.50% | +13.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.03% | 37.06% | +3.97% |
Dividends
SAFE vs. SPG - Dividend Comparison
SAFE's dividend yield for the trailing twelve months is around 4.76%, more than SPG's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SAFE Safehold Inc. | 4.76% | 5.17% | 3.83% | 3.03% | 2.45% | 0.84% | 1.10% | 1.15% | 3.19% | 1.78% | 0.00% | 0.00% |
SPG Simon Property Group, Inc. | 4.25% | 4.62% | 4.70% | 5.22% | 5.87% | 3.66% | 7.04% | 5.57% | 4.70% | 4.16% | 3.66% | 3.11% |
Financials
SAFE vs. SPG - Financials Comparison
This section allows you to compare key financial metrics between Safehold Inc. and Simon Property Group, Inc.. 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
SAFE vs. SPG - Profitability Comparison
SAFE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Safehold Inc. reported a gross profit of 102.90M and revenue of 104.75M. Therefore, the gross margin over that period was 98.2%.
SPG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported a gross profit of 1.45B and revenue of 1.76B. Therefore, the gross margin over that period was 82.5%.
SAFE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Safehold Inc. reported an operating income of 72.96M and revenue of 104.75M, resulting in an operating margin of 69.7%.
SPG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported an operating income of 762.16M and revenue of 1.76B, resulting in an operating margin of 43.4%.
SAFE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Safehold Inc. reported a net income of 28.86M and revenue of 104.75M, resulting in a net margin of 27.6%.
SPG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Simon Property Group, Inc. reported a net income of 1.48K and revenue of 1.76B, resulting in a net margin of 0.0%.
Frequently Asked Questions
SAFE and SPG have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAFE has higher volatility (9.05%) compared to SPG (5.45%). In terms of maximum drawdown, SAFE dropped -84.70% vs SPG's -77.00%.
SPG currently has the higher Sharpe Ratio (1.77 vs 0.14), 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.
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