CSGP vs XLRE: Correlation
CoStar Group (CSGP) and Real Estate Select Sector SPDR Fund (XLRE) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSGP and XLRE?
Over the past 3 years, CSGP and XLRE moved with a correlation of 0.37, which is moderate. The past 12 months show a weaker link (0.25) than the 3-year average (0.37). Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 223.3 %².
Among the 34 assets we track against CSGP, XLRE ranks #19 by 3-year correlation. The last year tells two different stories: XLRE led by 74.5 percentage points, -65.0% for CSGP against +9.5% for XLRE. On a rolling one-year basis the correlation drifted between 0.19 and 0.60, a moderate band. One caveat on sizing: CSGP is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CSGP vs XLRE: side by side
| CSGP (CoStar Group) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -65.0% | +9.5% |
| 5-year return | -62.7% | +11.4% |
| Volatility (ann.) | 36.5% | 16.7% |
| Beta vs S&P 500 | 0.86 | 0.57 |
| Max drawdown (3Y) | -72.2% | -16.6% |
| Market cap | $12.7B | – |
| P/E (trailing) | 174.1 | – |
| Dividend yield | 0.00% | 3.12% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.6B |
| Sector / category | Real Estate | 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 | CSGP | XLRE |
|---|---|---|
| 2022 | -2.2% | -26.2% |
| 2023 | +13.1% | +12.4% |
| 2024 | -18.1% | +5.1% |
| 2025 | -6.1% | +2.6% |
| 2026 | -53.4% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CSGP represents 1.33% of XLRE's portfolio, so part of any move in XLRE is CSGP itself, and the correlation between them is partly mechanical.
Are CSGP and XLRE good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CSGP and XLRE?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.25 over the last year and 0.45 over 5 years.
Is XLRE a good diversifier for CSGP?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
A reading of 0.37 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
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Related comparisons
Hubs: CSGP correlations · XLRE correlations
