SLG vs. VNO
SLG (SL Green Realty Corp.) and VNO (Vornado Realty Trust) are both stocks. Both operate in the REIT - Office industry within the Real Estate sector. Over the past 10 years, SLG returned -2.74%/yr vs -3.69%/yr for VNO. Their 0.72 correlation means they have sometimes moved together and sometimes differently.
Performance
SLG vs. VNO - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SLG having a 18.80% return and VNO slightly lower at 18.36%. Over the past 10 years, SLG has outperformed VNO with an annualized return of -2.74%, while VNO has yielded a comparatively lower -3.69% annualized return.
SLG
- 1D
- -1.27%
- 1M
- -0.92%
- 6M
- 21.69%
- YTD
- 18.80%
- 1Y
- -0.37%
- 3Y*
- 19.45%
- 5Y*
- -0.86%
- 10Y*
- -2.74%
- ALL TIME*
- 6.92%
VNO
- 1D
- -1.89%
- 1M
- -2.93%
- 6M
- 23.56%
- YTD
- 18.36%
- 1Y
- 6.96%
- 3Y*
- 22.47%
- 5Y*
- 1.24%
- 10Y*
- -3.69%
- ALL TIME*
- 9.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $66.86M | $56.34M | $55.63M | |
| $73.17M | $67.27M | $64.76M |
SLG vs. VNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLG SL Green Realty Corp. | 18.80% | -29.03% | 58.26% | 48.75% | -50.94% | 22.86% | -29.14% | 20.96% | -18.80% | -3.25% |
VNO Vornado Realty Trust | 18.36% | -19.09% | 51.32% | 39.50% | -46.66% | 17.78% | -40.43% | 14.93% | -17.75% | -4.53% |
Correlation
The correlation between SLG and VNO is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 1997 | 0.72 |
The correlation between SLG and VNO shifts across timeframes, from 0.72 (all time) to 0.86 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
SLG:
$3.76B
VNO:
$7.41B
SLG:
-$2.29
VNO:
$4.08
SLG:
3.85
VNO:
4.16
SLG:
1.27
VNO:
1.24
SLG:
$1.04B
VNO:
$1.81B
SLG:
$530.86M
VNO:
$1.56B
SLG:
$492.41M
VNO:
$1.21B
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Return for Risk
SLG vs. VNO — Risk / Return Rank
SLG
VNO
SLG vs. VNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SL Green Realty Corp. (SLG) and Vornado Realty Trust (VNO). 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.
| SLG | VNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.05 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 0.12 | -0.18 |
| Martin ratioReturn relative to average drawdown | -0.11 | 0.23 | -0.34 |
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Drawdowns
SLG vs. VNO - Drawdown Comparison
The maximum SLG drawdown since its inception was -94.02%, which is greater than VNO's maximum drawdown of -80.89%. Use the drawdown chart below to compare losses from any high point for SLG and VNO.
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Drawdown Indicators
| SLG | VNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.02% | -80.89% | -13.13% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -41.22% | -4.18% |
Max Drawdown (3Y)Largest decline over 3 years | -53.91% | -43.88% | -10.03% |
Max Drawdown (5Y)Largest decline over 5 years | -74.27% | -71.63% | -2.64% |
Max Drawdown (10Y)Largest decline over 10 years | -77.70% | -80.89% | +3.19% |
Current DrawdownCurrent decline from peak | -31.98% | -36.14% | +4.16% |
Average DrawdownAverage peak-to-trough decline | -27.47% | -20.65% | -6.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.27% | 21.14% | +6.13% |
Volatility
SLG vs. VNO - Volatility Comparison
SL Green Realty Corp. (SLG) has a higher volatility of 11.09% compared to Vornado Realty Trust (VNO) at 8.55%. This indicates that SLG's price experiences larger fluctuations and is considered to be riskier than VNO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLG | VNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.09% | 8.55% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 29.37% | 24.69% | +4.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.11% | 33.08% | +5.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.68% | 41.67% | +2.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.39% | 39.25% | +3.14% |
Dividends
SLG vs. VNO - Dividend Comparison
SLG's dividend yield for the trailing twelve months is around 4.28%, more than VNO's 1.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLG SL Green Realty Corp. | 4.28% | 6.18% | 4.43% | 7.15% | 10.94% | 5.09% | 7.81% | 3.74% | 4.16% | 3.11% | 2.73% | 2.23% |
VNO Vornado Realty Trust | 1.88% | 2.22% | 1.76% | 2.39% | 10.19% | 5.06% | 6.37% | 6.90% | 4.06% | 3.00% | 2.41% | 14.41% |
Financials
SLG vs. VNO - Financials Comparison
This section allows you to compare key financial metrics between SL Green Realty Corp. and Vornado Realty Trust. 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
SLG vs. VNO - Profitability Comparison
SLG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, SL Green Realty Corp. reported a gross profit of 221.57M and revenue of 264.00M. Therefore, the gross margin over that period was 83.9%.
VNO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Vornado Realty Trust reported a gross profit of 212.47M and revenue of 459.11M. Therefore, the gross margin over that period was 46.3%.
SLG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, SL Green Realty Corp. reported an operating income of 198.79M and revenue of 264.00M, resulting in an operating margin of 75.3%.
VNO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Vornado Realty Trust reported an operating income of 170.23M and revenue of 459.11M, resulting in an operating margin of 37.1%.
SLG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, SL Green Realty Corp. reported a net income of -26.50M and revenue of 264.00M, resulting in a net margin of -10.0%.
VNO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Vornado Realty Trust reported a net income of -22.84M and revenue of 459.11M, resulting in a net margin of -5.0%.
Frequently Asked Questions
SLG and VNO have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLG has higher volatility (11.09%) compared to VNO (8.55%). In terms of maximum drawdown, SLG dropped -94.02% vs VNO's -80.89%.
VNO currently has the higher Sharpe Ratio (0.15 vs -0.08), 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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