GOOD vs XLRE: Correlation
Gl (GOOD) and Real Estate Select Sector SPDR Fund (XLRE) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOD and XLRE?
Across a 3-year window, the weekly returns of GOOD and XLRE correlate at 0.67, strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. Stretching to 5 years gives 0.68, with an annualized covariance of 249.7 %².
By 3-year correlation, XLRE places #5 of the 16 assets tracked against GOOD. Neither side won the trailing year by much: +8.2% 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.
GOOD vs XLRE: side by side
| GOOD (Gl) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +8.2% | +9.5% |
| 5-year return | -11.7% | +11.4% |
| Volatility (ann.) | 22.3% | 16.7% |
| Beta vs S&P 500 | 0.67 | 0.57 |
| Max drawdown (3Y) | -35.3% | -16.6% |
| Market cap | $0.6B | – |
| P/E (trailing) | 51.9 | – |
| Dividend yield | 9.22% | 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 | GOOD | XLRE |
|---|---|---|
| 2022 | -22.5% | -26.2% |
| 2023 | -21.6% | +12.4% |
| 2024 | +33.3% | +5.1% |
| 2025 | -28.1% | +2.6% |
| 2026 | +29.9% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOOD and XLRE good diversifiers for each other?
Only partially. A correlation of 0.67 means GOOD and XLRE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GOOD and XLRE?
The GOOD/XLRE correlation stands at 0.67 on a 3-year window (1 year: 0.63, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is XLRE a good diversifier for GOOD?
Only partially. A correlation of 0.67 means GOOD and XLRE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 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: GOOD correlations · XLRE correlations
