HR vs XLRE: Correlation
How closely do Healthcare Realty Trust Incorporated (HR) and Real Estate Select Sector SPDR Fund (XLRE) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HR and XLRE?
Over the past 3 years, HR and XLRE moved with a correlation of 0.63, which is strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 229.0 %².
Among the 11 assets we track against HR, XLRE ranks #4 by 3-year correlation. On 12-month performance HR holds a 7.1-point edge, +16.6% 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.
HR vs XLRE: side by side
| HR (Healthcare Realty Trust Incorporated) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +16.6% | +9.5% |
| 5-year return | +12.6% | +11.4% |
| Volatility (ann.) | 21.8% | 16.7% |
| Beta vs S&P 500 | 0.37 | 0.57 |
| Max drawdown (3Y) | -24.4% | -16.6% |
| Market cap | $6.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.98% | 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 | HR | XLRE |
|---|---|---|
| 2022 | -17.5% | -26.2% |
| 2023 | -4.1% | +12.4% |
| 2024 | +6.4% | +5.1% |
| 2025 | +6.9% | +2.6% |
| 2026 | +17.2% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HR and XLRE good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HR and XLRE?
As of 2026-08-27, the correlation of weekly returns between HR and XLRE is 0.63 over 3 years, 0.64 over 1 year and 0.56 over 5 years.
Is XLRE a good diversifier for HR?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: HR correlations · XLRE correlations
