AWP vs XLRE: Correlation
abrdn Global Premier Properties Fund (AWP) and Real Estate Select Sector SPDR Fund (XLRE) show a strong relationship: their 3-year correlation of weekly returns is 0.79.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWP and XLRE?
Over the past 3 years, AWP and XLRE moved with a correlation of 0.79, which is strong. Little has changed lately, as the 1-year reading of 0.72 lands near the 3-year figure. Over 5 years the correlation is 0.84, and the annualized covariance of weekly returns is 303.3 %².
Within AWP's tracked universe of 16 assets, XLRE comes in at #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +10.1% for AWP and +9.5% for XLRE.
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.
AWP vs XLRE: side by side
| AWP (abrdn Global Premier Properties Fund) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +10.1% | +9.5% |
| 5-year return | +2.9% | +11.4% |
| Volatility (ann.) | 23.0% | 16.7% |
| Beta vs S&P 500 | 0.73 | 0.57 |
| Max drawdown (3Y) | -23.1% | -16.6% |
| Market cap | $0.4B | – |
| P/E (trailing) | 6.6 | – |
| Dividend yield | 12.21% | 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 | AWP | XLRE |
|---|---|---|
| 2022 | -37.1% | -26.2% |
| 2023 | +12.6% | +12.4% |
| 2024 | +12.2% | +5.1% |
| 2025 | +12.4% | +2.6% |
| 2026 | +10.1% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWP and XLRE good diversifiers for each other?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AWP and XLRE?
The AWP/XLRE correlation stands at 0.79 on a 3-year window (1 year: 0.72, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is XLRE a good diversifier for AWP?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.79 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/awp-vs-xlre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/awp-vs-xlre/)
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Related comparisons
Hubs: AWP correlations · XLRE correlations
