SPG vs. O
SPG (Simon Property Group, Inc.) and O (Realty Income Corporation) are both stocks. Both operate in the REIT - Retail industry within the Real Estate sector. Over the past 10 years, SPG returned 5.70%/yr vs 4.30%/yr for O. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
SPG vs. O - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPG achieves a 18.54% return, which is significantly higher than O's 9.82% return. Over the past 10 years, SPG has outperformed O with an annualized return of 5.70%, while O has yielded a comparatively lower 4.30% annualized return.
SPG
- 1D
- 1.53%
- 1M
- 6.12%
- YTD
- 18.54%
- 6M
- 17.55%
- 1Y
- 42.92%
- 3Y*
- 32.39%
- 5Y*
- 16.45%
- 10Y*
- 5.70%
O
- 1D
- 0.56%
- 1M
- -1.89%
- YTD
- 9.82%
- 6M
- 9.76%
- 1Y
- 11.86%
- 3Y*
- 6.80%
- 5Y*
- 3.66%
- 10Y*
- 4.30%
SPG vs. O - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPG Simon Property Group, Inc. | 18.54% | 12.94% | 26.92% | 29.24% | -21.91% | 95.72% | -38.64% | -6.74% | 2.55% | 0.98% |
O Realty Income Corporation | 9.82% | 12.20% | -2.11% | -4.55% | -7.38% | 23.95% | -11.60% | 21.27% | 15.94% | 3.67% |
Correlation
The correlation between SPG and O is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 1994 | 0.56 |
The correlation between SPG and O shifts across timeframes, from 0.47 (1 year) to 0.57 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
SPG:
$17.14
O:
$1.17
SPG:
12.52
O:
51.59
SPG:
0.50
O:
4.20
SPG:
7.91
O:
6.97
SPG:
$6.65B
O:
$5.92B
SPG:
$5.71B
O:
$3.89B
SPG:
$7.77B
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
SPG vs. O — Risk / Return Rank
SPG
O
SPG vs. O - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simon Property Group, Inc. (SPG) 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.
| SPG | O | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.54 | ||
| Sortino ratioReturn per unit of downside risk | +2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.13 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 1.07 | +2.66 |
| Martin ratioReturn relative to average drawdown | 13.43 | 2.51 | +10.92 |
Loading charts...
Drawdowns
SPG vs. O - Drawdown Comparison
The maximum SPG drawdown since its inception was -77.00%, which is greater than O's maximum drawdown of -48.45%. Use the drawdown chart below to compare losses from any high point for SPG and O.
Loading charts...
Drawdown Indicators
| SPG | O | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.00% | -48.45% | -28.55% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -11.10% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -24.32% | -26.49% | +2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -45.84% | -34.48% | -11.36% |
Max Drawdown (10Y)Largest decline over 10 years | -77.00% | -48.28% | -28.72% |
Current DrawdownCurrent decline from peak | -2.04% | -9.15% | +7.11% |
Average DrawdownAverage peak-to-trough decline | -13.83% | -9.20% | -4.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 4.73% | -1.53% |
Volatility
SPG vs. O - Volatility Comparison
Simon Property Group, Inc. (SPG) has a higher volatility of 6.22% compared to Realty Income Corporation (O) at 5.73%. This indicates that SPG'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
| SPG | O | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.22% | 5.73% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 14.42% | 12.21% | +2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.05% | 16.46% | +2.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.48% | 18.91% | +7.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.12% | 25.66% | +11.46% |
Dividends
SPG vs. O - Dividend Comparison
SPG's dividend yield for the trailing twelve months is around 4.10%, less than O's 5.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
O Realty Income Corporation | 5.34% | 6.19% | 5.37% | 5.33% | 4.68% | 3.87% | 4.51% | 3.69% | 4.19% | 4.45% | 4.18% | 4.41% |
SPG Simon Property Group, Inc. | 4.10% | 4.62% | 4.70% | 5.22% | 5.87% | 3.66% | 7.04% | 5.57% | 4.70% | 4.16% | 3.66% | 3.11% |
Financials
SPG vs. O - Financials Comparison
This section allows you to compare key financial metrics between Simon Property Group, Inc. 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
SPG vs. O - Profitability Comparison
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%.
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%.
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%.
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%.
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%.
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
SPG and O have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPG has higher volatility (6.22%) compared to O (5.73%). In terms of maximum drawdown, SPG dropped -77.00% vs O's -48.45%.
SPG currently has the higher Sharpe Ratio (2.27 vs 0.72), 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 SPG 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