TRNO vs. O
TRNO (Terreno Realty Corporation) and O (Realty Income Corporation) are both stocks. Both are in the Real Estate sector — TRNO in REIT - Industrial, O in REIT - Retail. Over the past 10 years, TRNO returned 13.22%/yr vs 4.76%/yr for O. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
TRNO vs. O - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TRNO having a 10.50% return and O slightly lower at 10.29%. Over the past 10 years, TRNO has outperformed O with an annualized return of 13.22%, while O has yielded a comparatively lower 4.76% annualized return.
TRNO
- 1D
- -0.25%
- 1M
- -3.32%
- YTD
- 10.50%
- 6M
- 5.06%
- 1Y
- 12.83%
- 3Y*
- 4.46%
- 5Y*
- 2.73%
- 10Y*
- 13.22%
O
- 1D
- 1.82%
- 1M
- -1.10%
- YTD
- 10.29%
- 6M
- 6.82%
- 1Y
- 14.70%
- 3Y*
- 6.20%
- 5Y*
- 2.85%
- 10Y*
- 4.76%
TRNO vs. O - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRNO Terreno Realty Corporation | 10.50% | 2.70% | -2.77% | 13.39% | -31.61% | 48.55% | 10.42% | 57.19% | 2.87% | 26.24% |
O Realty Income Corporation | 10.29% | 12.20% | -2.11% | -4.55% | -7.38% | 23.95% | -11.60% | 21.27% | 15.94% | 3.67% |
Correlation
The correlation between TRNO and O is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.52 |
The correlation between TRNO and O shifts across timeframes, from 0.40 (1 year) to 0.57 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
TRNO:
$4.09
O:
$1.17
TRNO:
15.73
O:
51.81
TRNO:
0.22
O:
4.22
TRNO:
13.61
O:
7.00
TRNO:
$490.40M
O:
$5.92B
TRNO:
$279.63M
O:
$3.89B
TRNO:
$503.94M
O:
$3.93B
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Return for Risk
TRNO vs. O — Risk / Return Rank
TRNO
O
TRNO vs. O - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Terreno Realty Corporation (TRNO) 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.
| TRNO | O | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.16 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 1.36 | +0.02 |
| Martin ratioReturn relative to average drawdown | 3.76 | 3.39 | +0.37 |
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
| TRNO | O | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 0.94 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.15 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.19 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.49 | -0.04 |
Drawdowns
TRNO vs. O - Drawdown Comparison
The maximum TRNO drawdown since its inception was -41.45%, smaller than the maximum O drawdown of -48.45%. Use the drawdown chart below to compare losses from any high point for TRNO and O.
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Drawdown Indicators
| TRNO | O | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.45% | -48.45% | +7.00% |
Max Drawdown (1Y)Largest decline over 1 year | -10.85% | -11.10% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -26.27% | -26.49% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | -39.06% | -34.48% | -4.58% |
Max Drawdown (10Y)Largest decline over 10 years | -39.06% | -48.28% | +9.22% |
Current DrawdownCurrent decline from peak | -14.43% | -8.76% | -5.67% |
Average DrawdownAverage peak-to-trough decline | -12.30% | -9.21% | -3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.99% | 4.45% | -0.46% |
Volatility
TRNO vs. O - Volatility Comparison
The current volatility for Terreno Realty Corporation (TRNO) is 5.49%, while Realty Income Corporation (O) has a volatility of 5.78%. This indicates that TRNO experiences smaller price fluctuations and is considered to be less risky than O based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRNO | O | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.49% | 5.78% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 12.98% | 11.81% | +1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.86% | 16.01% | +4.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.72% | 18.88% | +5.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.46% | 25.63% | -1.17% |
Dividends
TRNO vs. O - Dividend Comparison
TRNO's dividend yield for the trailing twelve months is around 3.19%, less than O's 5.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
O Realty Income Corporation | 5.32% | 6.19% | 5.37% | 5.33% | 4.68% | 3.87% | 4.51% | 3.69% | 4.19% | 4.45% | 4.18% | 4.41% |
TRNO Terreno Realty Corporation | 3.19% | 3.44% | 3.18% | 2.71% | 2.60% | 1.48% | 1.91% | 1.88% | 2.62% | 2.40% | 2.67% | 2.92% |
Financials
TRNO vs. O - Financials Comparison
This section allows you to compare key financial metrics between Terreno Realty Corporation 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
TRNO vs. O - Profitability Comparison
TRNO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Terreno Realty Corporation reported a gross profit of 0.00 and revenue of 124.44M. Therefore, the gross margin over that period was 0.0%.
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%.
TRNO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Terreno Realty Corporation reported an operating income of 0.00 and revenue of 124.44M, resulting in an operating margin of 0.0%.
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%.
TRNO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Terreno Realty Corporation reported a net income of 69.43M and revenue of 124.44M, resulting in a net margin of 55.8%.
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
TRNO and O have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
O has higher volatility (5.78%) compared to TRNO (5.49%). In terms of maximum drawdown, TRNO dropped -41.45% vs O's -48.45%.
O currently has the higher Sharpe Ratio (0.94 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.
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