NTST vs XLRE: Correlation
Measured on weekly returns over the past three years, NetSTREIT Corp. (NTST) and Real Estate Select Sector SPDR Fund (XLRE) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTST and XLRE?
Across a 3-year window, the weekly returns of NTST and XLRE correlate at 0.71, strong. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 279.8 %².
XLRE is one of the assets that tracks NTST most closely: it ranks #2 out of the 14 assets we track against NTST. On 12-month performance NTST holds a 7.5-point edge, +17.0% 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.
NTST vs XLRE: side by side
| NTST (NetSTREIT Corp.) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +17.0% | +9.5% |
| 5-year return | -2.0% | +11.4% |
| Volatility (ann.) | 23.4% | 16.7% |
| Beta vs S&P 500 | 0.44 | 0.57 |
| Max drawdown (3Y) | -23.0% | -16.6% |
| Market cap | $2.1B | – |
| P/E (trailing) | 146.6 | – |
| Dividend yield | 4.19% | 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 | NTST | XLRE |
|---|---|---|
| 2022 | -16.8% | -26.2% |
| 2023 | +2.1% | +12.4% |
| 2024 | -16.7% | +5.1% |
| 2025 | +31.2% | +2.6% |
| 2026 | +18.9% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTST and XLRE good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NTST and XLRE?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.76 over the last year and 0.66 over 5 years.
Is XLRE a good diversifier for NTST?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
A reading of 0.71 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: NTST correlations · XLRE correlations
