PDEX vs XLRE: Correlation
How closely do Pro-Dex, Inc. (PDEX) and Real Estate Select Sector SPDR Fund (XLRE) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDEX and XLRE?
Across a 3-year window, the weekly returns of PDEX and XLRE correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.18 over 1 year against -0.19 over 3. Stretching to 5 years gives -0.10, with an annualized covariance of -186.8 %².
By 3-year correlation, XLRE places #16 of the 31 assets tracked against PDEX. The last year tells two different stories: PDEX led by 33.0 percentage points, +42.5% for PDEX against +9.5% for XLRE. Note the risk asymmetry: PDEX runs 3.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PDEX vs XLRE: side by side
| PDEX (Pro-Dex, Inc.) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +42.5% | +9.5% |
| 5-year return | +152.4% | +11.4% |
| Volatility (ann.) | 59.6% | 16.7% |
| Beta vs S&P 500 | 0.17 | 0.57 |
| Max drawdown (3Y) | -65.3% | -16.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | 17.5 | – |
| 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 | PDEX | XLRE |
|---|---|---|
| 2022 | -31.5% | -26.2% |
| 2023 | +10.2% | +12.4% |
| 2024 | +166.8% | +5.1% |
| 2025 | -17.7% | +2.6% |
| 2026 | +68.6% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDEX and XLRE good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between PDEX and XLRE?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.18 over the last year and -0.10 over 5 years.
Is XLRE a good diversifier for PDEX?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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
$ curl https://www.pairbook.io/api/v1/pairs/pdex-vs-xlre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pdex-vs-xlre/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PDEX correlations · XLRE correlations
