Recent cosmic shear studies have reported discrepancies of up to $1sigma$ on the parameter ${S_{8}=sigma_{8}sqrt{Omega_{
m m}/0.3}}$ between the analysis of shear power spectra and two-point correlation functions, derived from the same shear catalogs. It is not a priori clear whether the measured discrepancies are consistent with statistical fluctuations. In this paper, we investigate this issue in the context of the forthcoming analyses from the third year data of the Dark Energy Survey (DES-Y3). We analyze DES-Y3 mock catalogs from Gaussian simulations with a fast and accurate importance sampling pipeline. We show that the methodology for determining matching scale cuts in harmonic and real space is the key factor that contributes to the scatter between constraints derived from the two statistics. We compare the published scales cuts of the KiDS, Subaru-HSC and DES surveys, and find that the correlation coefficients of posterior means range from over 80% for our proposed cuts, down to 10% for cuts used in the literature. We then study the interaction between scale cuts and systematic uncertainties arising from multiple sources: non-linear power spectrum, baryonic feedback, intrinsic alignments, uncertainties in the point-spread function, and redshift distributions. We find that, given DES-Y3 characteristics and proposed cuts, these uncertainties affect the two statistics similarly; the differential biases are below a third of the statistical uncertainty, with the largest biases arising from intrinsic alignment and baryonic feedback. While this work is aimed at DES-Y3, the tools developed can be applied to Stage-IV surveys where statistical errors will be much smaller....
