TRT vs XLRE: Correlation
Measured on weekly returns over the past three years, Trio-Tech International (TRT) and Real Estate Select Sector SPDR Fund (XLRE) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TRT and XLRE?
Across a 3-year window, the weekly returns of TRT and XLRE correlate at -0.18, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.31) runs below the 3-year figure (-0.18). Stretching to 5 years gives -0.03, with an annualized covariance of -325.3 %².
By 3-year correlation, XLRE places #34 of the 104 assets tracked against TRT. Correlation aside, the last 12 months split them widely, with TRT ahead by 286.0 points (+295.5% versus +9.5%). Note the risk asymmetry: TRT runs 6.4 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.
TRT vs XLRE: side by side
| TRT (Trio-Tech International) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +295.5% | +9.5% |
| 5-year return | +365.8% | +11.4% |
| Volatility (ann.) | 107.4% | 16.7% |
| Beta vs S&P 500 | 0.18 | 0.57 |
| Max drawdown (3Y) | -54.6% | -16.6% |
| Market cap | – | – |
| P/E (trailing) | 209.6 | – |
| 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 | TRT | XLRE |
|---|---|---|
| 2022 | -66.5% | -26.2% |
| 2023 | +12.7% | +12.4% |
| 2024 | +14.6% | +5.1% |
| 2025 | +127.9% | +2.6% |
| 2026 | +58.3% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TRT and XLRE good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TRT and XLRE?
The TRT/XLRE correlation stands at -0.18 on a 3-year window (1 year: -0.31, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is XLRE a good diversifier for TRT?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
A reading of -0.18 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
$ curl https://www.pairbook.io/api/v1/pairs/trt-vs-xlre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/trt-vs-xlre/)
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Related comparisons
Hubs: TRT correlations · XLRE correlations
