PAPL vs XLRE: Correlation
Pineapple Financial Inc. (PAPL) and Real Estate Select Sector SPDR Fund (XLRE) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAPL and XLRE?
Across a 3-year window, the weekly returns of PAPL and XLRE correlate at -0.16, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.17) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -454.7 %².
Among the 51 assets we track against PAPL, XLRE ranks #17 by 3-year correlation. The last year tells two different stories: XLRE led by 80.2 percentage points, -70.7% for PAPL against +9.5% for XLRE. Risk is not evenly split, since PAPL carries 10.9 times the volatility of the other side.
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.
PAPL vs XLRE: side by side
| PAPL (Pineapple Financial Inc.) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -70.7% | +9.5% |
| 5-year return | n/a | +11.4% |
| Volatility (ann.) | 181.2% | 16.7% |
| Beta vs S&P 500 | -0.73 | 0.57 |
| Max drawdown (3Y) | -99.4% | -16.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | PAPL | XLRE |
|---|---|---|
| 2022 | – | -26.2% |
| 2023 | – | +12.4% |
| 2024 | -74.7% | +5.1% |
| 2025 | -84.4% | +2.6% |
| 2026 | -25.5% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAPL and XLRE good diversifiers for each other?
Yes. With a correlation of -0.16, PAPL and XLRE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PAPL and XLRE?
As of 2026-08-27, the correlation of weekly returns between PAPL and XLRE is -0.16 over 3 years, -0.17 over 1 year and n/a over 5 years.
Is XLRE a good diversifier for PAPL?
Yes. With a correlation of -0.16, PAPL and XLRE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 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
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Related comparisons
Hubs: PAPL correlations · XLRE correlations
