SPG vs. VNOM
SPG (Simon Property Group, Inc.) and VNOM (Viper Energy Partners LP) are both stocks. SPG operates in REIT - Retail (Real Estate), while VNOM operates in Oil & Gas Midstream (Energy). Over the past 10 years, SPG returned 5.78%/yr vs 15.22%/yr for VNOM. At a 0.23 correlation, their price movements are largely independent.
Performance
SPG vs. VNOM - Performance Comparison
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Returns By Period
In the year-to-date period, SPG achieves a 19.14% return, which is significantly higher than VNOM's 16.06% return. Over the past 10 years, SPG has underperformed VNOM with an annualized return of 5.78%, while VNOM has yielded a comparatively higher 15.22% annualized return.
SPG
- 1D
- -1.54%
- 1M
- 9.00%
- YTD
- 19.14%
- 6M
- 19.75%
- 1Y
- 43.99%
- 3Y*
- 30.61%
- 5Y*
- 16.83%
- 10Y*
- 5.78%
VNOM
- 1D
- -1.55%
- 1M
- -10.80%
- YTD
- 16.06%
- 6M
- 13.71%
- 1Y
- 8.58%
- 3Y*
- 27.80%
- 5Y*
- 25.82%
- 10Y*
- 15.22%
SPG vs. VNOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPG Simon Property Group, Inc. | 19.14% | 12.94% | 26.92% | 29.24% | -21.91% | 95.72% | -38.64% | -6.74% | 2.55% | 0.98% |
VNOM Viper Energy Partners LP | 16.06% | -16.58% | 65.52% | 4.83% | 61.69% | 94.24% | -50.69% | 0.66% | 19.60% | 55.99% |
Correlation
The correlation between SPG and VNOM is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2014 | 0.23 |
The correlation between SPG and VNOM shifts across timeframes, from -0.04 (1 year) to 0.27 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
SPG:
$17.14
VNOM:
-$0.29
SPG:
7.95
VNOM:
4.27
SPG:
$6.65B
VNOM:
$1.60B
SPG:
$5.71B
VNOM:
$740.00M
SPG:
$7.77B
VNOM:
$1.04B
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Return for Risk
SPG vs. VNOM — Risk / Return Rank
SPG
VNOM
SPG vs. VNOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simon Property Group, Inc. (SPG) and Viper Energy Partners LP (VNOM). 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 | VNOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.06 | ||
| Sortino ratioReturn per unit of downside risk | +2.70 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.07 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 0.66 | +3.17 |
| Martin ratioReturn relative to average drawdown | 13.86 | 1.20 | +12.66 |
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Drawdowns
SPG vs. VNOM - Drawdown Comparison
The maximum SPG drawdown since its inception was -77.00%, smaller than the maximum VNOM drawdown of -86.96%. Use the drawdown chart below to compare losses from any high point for SPG and VNOM.
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Drawdown Indicators
| SPG | VNOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.00% | -86.96% | +9.96% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -13.03% | +1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -24.32% | -34.46% | +10.14% |
Max Drawdown (5Y)Largest decline over 5 years | -45.84% | -34.46% | -11.38% |
Max Drawdown (10Y)Largest decline over 10 years | -77.00% | -86.96% | +9.96% |
Current DrawdownCurrent decline from peak | -1.54% | -15.99% | +14.45% |
Average DrawdownAverage peak-to-trough decline | -13.83% | -31.64% | +17.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 8.22% | -5.04% |
Volatility
SPG vs. VNOM - Volatility Comparison
The current volatility for Simon Property Group, Inc. (SPG) is 5.74%, while Viper Energy Partners LP (VNOM) has a volatility of 7.25%. This indicates that SPG experiences smaller price fluctuations and is considered to be less risky than VNOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPG | VNOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.74% | 7.25% | -1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 20.01% | -5.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.81% | 29.23% | -10.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.56% | 35.89% | -9.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.10% | 45.22% | -8.12% |
Dividends
SPG vs. VNOM - Dividend Comparison
SPG's dividend yield for the trailing twelve months is around 4.08%, less than VNOM's 5.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPG Simon Property Group, Inc. | 4.08% | 4.62% | 4.70% | 5.22% | 5.87% | 3.66% | 7.04% | 5.57% | 4.70% | 4.16% | 3.66% | 3.11% |
VNOM Viper Energy Partners LP | 5.29% | 6.03% | 4.89% | 5.58% | 7.68% | 5.16% | 5.85% | 7.38% | 8.14% | 5.27% | 4.83% | 6.16% |
Financials
SPG vs. VNOM - Financials Comparison
This section allows you to compare key financial metrics between Simon Property Group, Inc. and Viper Energy Partners LP. 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. VNOM - 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%.
VNOM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported a gross profit of 255.00M and revenue of 496.00M. Therefore, the gross margin over that period was 51.4%.
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%.
VNOM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported an operating income of 238.00M and revenue of 496.00M, resulting in an operating margin of 48.0%.
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%.
VNOM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Viper Energy Partners LP reported a net income of 97.00M and revenue of 496.00M, resulting in a net margin of 19.6%.
Frequently Asked Questions
SPG and VNOM have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNOM has higher volatility (7.25%) compared to SPG (5.74%). In terms of maximum drawdown, SPG dropped -77.00% vs VNOM's -86.96%.
SPG currently has the higher Sharpe Ratio (2.35 vs 0.30), 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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