VICI vs XLRE: Correlation
How closely do Vici Properties (VICI) and Real Estate Select Sector SPDR Fund (XLRE) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VICI and XLRE?
Across a 3-year window, the weekly returns of VICI and XLRE correlate at 0.77, strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Stretching to 5 years gives 0.74, with an annualized covariance of 232.1 %².
Few assets follow VICI as closely as XLRE, which ranks #3 of 40 tracked partners. Their recent paths diverged sharply: over the last 12 months XLRE outperformed by 28.2 percentage points (-18.7% for VICI against +9.5% for XLRE). The rolling one-year correlation stayed in a tight band between 0.65 and 0.86 over the past three years, which points to a structural rather than episodic relationship.
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.
VICI vs XLRE: side by side
| VICI (Vici Properties) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -18.7% | +9.5% |
| 5-year return | +9.9% | +11.4% |
| Volatility (ann.) | 18.0% | 16.7% |
| Beta vs S&P 500 | 0.35 | 0.57 |
| Max drawdown (3Y) | -19.1% | -16.6% |
| Market cap | $28.4B | – |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 6.92% | 3.12% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.6B |
| Sector / category | Real Estate | 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 | VICI | XLRE |
|---|---|---|
| 2022 | +13.0% | -26.2% |
| 2023 | +3.6% | +12.4% |
| 2024 | -3.1% | +5.1% |
| 2025 | +1.9% | +2.6% |
| 2026 | -5.3% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
VICI represents 2.87% of XLRE's portfolio, so part of any move in XLRE is VICI itself, and the correlation between them is partly mechanical.
Are VICI and XLRE good diversifiers for each other?
Only partially. A correlation of 0.77 means VICI and XLRE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between VICI and XLRE?
The VICI/XLRE correlation stands at 0.77 on a 3-year window (1 year: 0.77, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is XLRE a good diversifier for VICI?
Only partially. A correlation of 0.77 means VICI and XLRE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 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/vici-vs-xlre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vici-vs-xlre/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VICI correlations · XLRE correlations
