BATRA vs XLRE: Correlation
How closely do Atlanta Braves Holdings, Inc. - Series A (BATRA) and Real Estate Select Sector SPDR Fund (XLRE) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATRA and XLRE?
Over the past 3 years, BATRA and XLRE moved with a correlation of 0.47, which is moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 148.0 %².
Among the 12 assets we track against BATRA, XLRE ranks #5 by 3-year correlation. Over the last 12 months BATRA came out ahead by 8.4 percentage points (+17.9% against +9.5%).
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.
BATRA vs XLRE: side by side
| BATRA (Atlanta Braves Holdings, Inc. - Series A) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +17.9% | +9.5% |
| 5-year return | +113.7% | +11.4% |
| Volatility (ann.) | 18.8% | 16.7% |
| Beta vs S&P 500 | 0.46 | 0.57 |
| Max drawdown (3Y) | -16.6% | -16.6% |
| Market cap | $3.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | BATRA | XLRE |
|---|---|---|
| 2022 | +13.6% | -26.2% |
| 2023 | +30.9% | +12.4% |
| 2024 | -4.6% | +5.1% |
| 2025 | +4.1% | +2.6% |
| 2026 | +31.2% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATRA and XLRE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BATRA and XLRE?
As of 2026-08-27, the correlation of weekly returns between BATRA and XLRE is 0.47 over 3 years, 0.49 over 1 year and 0.40 over 5 years.
Is XLRE a good diversifier for BATRA?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BATRA correlations · XLRE correlations
