AHR vs XLRE: Correlation
American Healthcare REIT, Inc. (AHR) and Real Estate Select Sector SPDR Fund (XLRE) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AHR and XLRE?
On 3 years of weekly data the AHR/XLRE correlation comes out at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 210.4 %².
By 3-year correlation, XLRE places #5 of the 11 assets tracked against AHR. Their recent paths diverged sharply: over the last 12 months AHR outperformed by 25.5 percentage points (+35.0% for AHR against +9.5% for XLRE). Note the risk asymmetry: AHR runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AHR vs XLRE: side by side
| AHR (American Healthcare REIT, Inc.) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +35.0% | +9.5% |
| 5-year return | n/a | +11.4% |
| Volatility (ann.) | 26.9% | 16.7% |
| Beta vs S&P 500 | 0.50 | 0.57 |
| Max drawdown (3Y) | -13.6% | -16.6% |
| Market cap | $12.3B | – |
| P/E (trailing) | 84.3 | – |
| Dividend yield | 1.75% | 3.12% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.6B |
| Sector / category | US Listed | Sector ETF |
On the fund side, XLRE sits in the Real Estate category at State Street Investment Management, with $8.6B under management, 31 holdings, a 0.08% expense ratio, a 3.12% trailing dividend yield.
Year-by-year returns
| Year | AHR | XLRE |
|---|---|---|
| 2022 | – | -26.2% |
| 2023 | – | +12.4% |
| 2024 | – | +5.1% |
| 2025 | +70.0% | +2.6% |
| 2026 | +21.2% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AHR and XLRE good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AHR and XLRE?
As of 2026-08-27, the correlation of weekly returns between AHR and XLRE is 0.50 over 3 years, 0.51 over 1 year and n/a over 5 years.
Is XLRE a good diversifier for AHR?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ahr-vs-xlre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ahr-vs-xlre/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AHR correlations · XLRE correlations
