RQI vs XLRE: Correlation
How closely do Cohen & Steers Quality Income Realty Fund Inc (RQI) and Real Estate Select Sector SPDR Fund (XLRE) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RQI and XLRE?
Across a 3-year window, the weekly returns of RQI and XLRE correlate at 0.89, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.89 over 3. Stretching to 5 years gives 0.89, with an annualized covariance of 322.3 %².
In RQI's tracked universe of 48 assets, XLRE sits right near the top at #3. Their 12-month results are close: +8.6% for RQI against +9.5% for XLRE.
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.
RQI vs XLRE: side by side
| RQI (Cohen & Steers Quality Income Realty Fund Inc) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +8.6% | +9.5% |
| 5-year return | +16.3% | +11.4% |
| Volatility (ann.) | 21.6% | 16.7% |
| Beta vs S&P 500 | 0.77 | 0.57 |
| Max drawdown (3Y) | -21.0% | -16.6% |
| Market cap | $1.7B | – |
| P/E (trailing) | 35.2 | – |
| Dividend yield | 7.74% | 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 | RQI | XLRE |
|---|---|---|
| 2022 | -31.1% | -26.2% |
| 2023 | +15.7% | +12.4% |
| 2024 | +8.0% | +5.1% |
| 2025 | +2.1% | +2.6% |
| 2026 | +14.3% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RQI and XLRE good diversifiers for each other?
No: a correlation of 0.89 means RQI and XLRE tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between RQI and XLRE?
The RQI/XLRE correlation stands at 0.89 on a 3-year window (1 year: 0.84, 5 years: 0.89), computed from weekly returns as of 2026-08-27.
Is XLRE a good diversifier for RQI?
No: a correlation of 0.89 means RQI and XLRE tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.89 mean?
A reading of 0.89 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: RQI correlations · XLRE correlations
