DIA vs XLRE: Correlation & Overlap
SPDR Dow Jones Industrial Average ETF (DIA) and Real Estate Select Sector SPDR Fund (XLRE) show a moderate relationship: their 3-year correlation of weekly returns is 0.58. The two funds also share 0% of their portfolios by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIA and XLRE?
Across a 3-year window, the weekly returns of DIA and XLRE correlate at 0.58, moderate. The past 12 months show a weaker link (0.41) than the 3-year average (0.58). Stretching to 5 years gives 0.69, with an annualized covariance of 126.0 %².
Within DIA's tracked universe of 116 assets, XLRE comes in at #74 by 3-year correlation. Over the last 12 months DIA came out ahead by 9.7 percentage points (+19.2% against +9.5%). On a rolling one-year basis the correlation drifted between 0.42 and 0.84, a moderate band.
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.
DIA vs XLRE: side by side
| DIA (SPDR Dow Jones Industrial Average ETF) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +19.2% | +9.5% |
| 5-year return | +64.8% | +11.4% |
| Volatility (ann.) | 13.0% | 16.7% |
| Beta vs S&P 500 | 0.79 | 0.57 |
| Max drawdown (3Y) | -16.0% | -16.6% |
| Dividend yield | 1.37% | 3.12% |
| Expense ratio | 0.16% | 0.08% |
| Assets under management | $45.2B | $8.6B |
| Sector / category | ETF · US Large Cap | Sector ETF |
On the fund side, DIA sits in the Large Value category at State Street Investment Management, with $45.2B under management, 30 holdings, a 0.16% expense ratio, a 1.37% trailing dividend yield. 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.
Portfolio overlap between DIA and XLRE
The two portfolios are largely distinct: 0% of the funds' weight sits in the same underlying holdings (0 common positions). Correlation tells you they move together; overlap tells you why.
Largest positions held only by DIA: GS (11.56%), CAT (9.13%), MSFT (5.51%), AMGN (4.89%), UNH (4.45%). Only by XLRE: WELL (11.43%), PLD (9.06%), EQIX (7.14%), AMT (5.49%), DLR (5.01%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26.
Year-by-year returns
| Year | DIA | XLRE |
|---|---|---|
| 2022 | -7.0% | -26.2% |
| 2023 | +16.0% | +12.4% |
| 2024 | +14.8% | +5.1% |
| 2025 | +14.7% | +2.6% |
| 2026 | +12.3% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIA and XLRE good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DIA and XLRE?
As of 2026-08-27, the correlation of weekly returns between DIA and XLRE is 0.58 over 3 years, 0.41 over 1 year and 0.69 over 5 years.
Is XLRE a good diversifier for DIA?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
How much do DIA and XLRE overlap?
Per the issuers' own portfolio disclosures (2026-08-26), the overlap is 0% by weight over 0 common positions.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dia-vs-xlre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dia-vs-xlre/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DIA correlations · XLRE correlations
