VCX.AX vs. O

Last updated Jun 5, 2026

VCX.AX (Vicinity Centres) 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, VCX.AX returned 2.61%/yr vs 5.34%/yr for O. At a 0.03 correlation, their price movements are largely independent.

Performance

VCX.AX vs. O - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vicinity Centres (VCX.AX) and Realty Income Corporation (O). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VCX.AX is traded in AUD, while O is traded in USD. To make them comparable, the O values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VCX.AX achieves a -2.31% return, which is significantly lower than O's 4.44% return. Over the past 10 years, VCX.AX has underperformed O with an annualized return of 2.61%, while O has yielded a comparatively higher 5.34% annualized return.

VCX.AX

• 1D: 0.83%
• 1M: -3.94%
• YTD: -2.31%
• 6M: 1.25%
• 1Y: 4.50%
• 3Y*: 15.16%
• 5Y*: 14.80%
• 10Y*: 2.61%

O

• 1D: 3.07%
• 1M: -1.93%
• YTD: 4.44%
• 6M: 0.64%
• 1Y: 6.18%
• 3Y*: 4.27%
• 5Y*: 4.81%
• 10Y*: 5.34%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VCX.AX vs. O - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCX.AX Vicinity Centres	-2.31%	28.16%	8.89%	8.56%	25.00%	9.80%	-34.20%	1.82%	1.62%	-3.22%
O Realty Income Corporation	4.44%	4.06%	7.74%	-4.48%	-1.25%	31.22%	-19.36%	21.83%	28.37%	-4.22%

Correlation

The correlation between VCX.AX and O is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jul 4, 2007	0.03

The correlation between VCX.AX and O shifts across timeframes, from 0.03 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VCX.AX vs. O — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VCX.AX

VCX.AX Risk / Return Rank: 46
VCX.AX Sharpe Ratio Rank: 50
VCX.AX Sortino Ratio Rank: 41
VCX.AX Omega Ratio Rank: 41
VCX.AX Calmar Ratio Rank: 49
VCX.AX Martin Ratio Rank: 52

O

O Risk / Return Rank: 65
O Sharpe Ratio Rank: 70
O Sortino Ratio Rank: 62
O Omega Ratio Rank: 60
O Calmar Ratio Rank: 67
O Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VCX.AX vs. O - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vicinity Centres (VCX.AX) 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.

	VCX.AX	O	Difference
Sharpe ratio: Return per unit of total volatility	0.23	0.38	-0.15
Sortino ratio: Return per unit of downside risk	0.43	0.63	-0.20
Omega ratio: Gain probability vs. loss probability	1.06	1.08	-0.02
Calmar ratio: Return relative to maximum drawdown	0.35	0.54	-0.19
Martin ratio: Return relative to average drawdown	0.93	1.26	-0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCX.AX vs. O - Sharpe Ratio Comparison

The current VCX.AX Sharpe Ratio is 0.23, which is lower than the O Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of VCX.AX and O, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VCX.AX	O	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.23	0.38	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.26	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	0.22	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.38	-0.42

Drawdowns

VCX.AX vs. O - Drawdown Comparison

The maximum VCX.AX drawdown since its inception was -99.23%, which is greater than O's maximum drawdown of -41.09%. Use the drawdown chart below to compare losses from any high point for VCX.AX and O.

Drawdown Indicators

	VCX.AX	O	Difference
Max Drawdown Largest peak-to-trough decline	-99.23%	-41.09%	-58.14%
Max Drawdown (1Y) Largest decline over 1 year	-12.92%	-11.57%	-1.35%
Max Drawdown (3Y) Largest decline over 3 years	-15.06%	-21.98%	+6.92%
Max Drawdown (5Y) Largest decline over 5 years	-17.99%	-27.76%	+9.77%
Max Drawdown (10Y) Largest decline over 10 years	-66.63%	-41.09%	-25.54%
Current Drawdown Current decline from peak	-50.47%	-8.14%	-42.33%
Average Drawdown Average peak-to-trough decline	-65.26%	-12.28%	-52.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.81%	4.93%	-0.12%

Volatility

VCX.AX vs. O - Volatility Comparison

Vicinity Centres (VCX.AX) has a higher volatility of 8.14% compared to Realty Income Corporation (O) at 6.15%. This indicates that VCX.AX'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.

Volatility by Period

	VCX.AX	O	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.14%	6.15%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	14.86%	12.76%	+2.10%
Volatility (1Y) Calculated over the trailing 1-year period	19.58%	16.53%	+3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.85%	18.52%	+4.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.48%	24.69%	+2.79%

Dividends

VCX.AX vs. O - Dividend Comparison

VCX.AX's dividend yield for the trailing twelve months is around 5.02%, 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%
VCX.AX Vicinity Centres	5.02%	4.69%	5.60%	5.88%	5.20%	3.91%	2.12%	6.29%	6.21%	6.14%	5.89%	6.18%

Financials

Frequently Asked Questions

Can I hold both VCX.AX and O in my portfolio?

VCX.AX and O have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.