DGX vs XLRE: Correlation
Measured on weekly returns over the past three years, Quest Diagnostics (DGX) 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 DGX and XLRE?
Over the past 3 years, DGX and XLRE moved with a correlation of 0.39, which is moderate. The past 12 months show a tighter link (0.50) than the 3-year average (0.39). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 125.0 %².
Within DGX's tracked universe of 32 assets, XLRE comes in at #16 by 3-year correlation. The last year tells two different stories: DGX led by 29.0 percentage points, +38.5% for DGX against +9.5% for XLRE. Across three years, the rolling one-year figure varied moderately, from 0.20 to 0.51.
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.
DGX vs XLRE: side by side
| DGX (Quest Diagnostics) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +38.5% | +9.5% |
| 5-year return | +78.8% | +11.4% |
| Volatility (ann.) | 19.1% | 16.7% |
| Beta vs S&P 500 | 0.09 | 0.57 |
| Max drawdown (3Y) | -12.4% | -16.6% |
| Market cap | $27.0B | – |
| P/E (trailing) | 26.0 | – |
| Dividend yield | 1.36% | 3.12% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.6B |
| Sector / category | Health Care | 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 | DGX | XLRE |
|---|---|---|
| 2022 | -7.8% | -26.2% |
| 2023 | -10.1% | +12.4% |
| 2024 | +11.8% | +5.1% |
| 2025 | +17.2% | +2.6% |
| 2026 | +42.8% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGX and XLRE good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DGX and XLRE?
As of 2026-08-27, the correlation of weekly returns between DGX and XLRE is 0.39 over 3 years, 0.50 over 1 year and 0.42 over 5 years.
Is XLRE a good diversifier for DGX?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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/dgx-vs-xlre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dgx-vs-xlre/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGX correlations · XLRE correlations
