CHT vs XLRE: Correlation
Measured on weekly returns over the past three years, Chunghwa Telecom Co., Ltd. (CHT) and Real Estate Select Sector SPDR Fund (XLRE) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHT and XLRE?
On 3 years of weekly data the CHT/XLRE correlation comes out at 0.39, moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.39). The 5-year figure is 0.41, and annualized covariance runs at 77.9 %².
By 3-year correlation, XLRE places #5 of the 11 assets tracked against CHT. Over the last 12 months XLRE came out ahead by 7.9 percentage points (+1.6% 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.
CHT vs XLRE: side by side
| CHT (Chunghwa Telecom Co., Ltd.) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +1.6% | +9.5% |
| 5-year return | +29.5% | +11.4% |
| Volatility (ann.) | 11.9% | 16.7% |
| Beta vs S&P 500 | 0.20 | 0.57 |
| Max drawdown (3Y) | -11.0% | -16.6% |
| Market cap | $33.3B | – |
| P/E (trailing) | 26.9 | – |
| Dividend yield | 12.12% | 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 | CHT | XLRE |
|---|---|---|
| 2022 | -10.0% | -26.2% |
| 2023 | +11.1% | +12.4% |
| 2024 | +0.2% | +5.1% |
| 2025 | +14.9% | +2.6% |
| 2026 | +7.1% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHT and XLRE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CHT and XLRE?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.52 over the last year and 0.41 over 5 years.
Is XLRE a good diversifier for CHT?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cht-vs-xlre.json
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Related comparisons
Hubs: CHT correlations · XLRE correlations
