WELL vs XLRE: Correlation
Welltower (WELL) and Real Estate Select Sector SPDR Fund (XLRE) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WELL and XLRE?
On 3 years of weekly data the WELL/XLRE correlation comes out at 0.61, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 217.0 %².
In WELL's tracked universe of 34 assets, XLRE sits right near the top at #3. Correlation aside, the last 12 months split them widely, with WELL ahead by 35.4 points (+44.9% versus +9.5%). Across three years, the rolling one-year figure varied moderately, from 0.44 to 0.83.
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.
WELL vs XLRE: side by side
| WELL (Welltower) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +44.9% | +9.5% |
| 5-year return | +214.9% | +11.4% |
| Volatility (ann.) | 21.2% | 16.7% |
| Beta vs S&P 500 | 0.30 | 0.57 |
| Max drawdown (3Y) | -13.0% | -16.6% |
| Market cap | $172.6B | – |
| P/E (trailing) | 108.9 | – |
| Dividend yield | 1.27% | 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 | WELL | XLRE |
|---|---|---|
| 2022 | -21.2% | -26.2% |
| 2023 | +41.8% | +12.4% |
| 2024 | +43.1% | +5.1% |
| 2025 | +49.9% | +2.6% |
| 2026 | +30.5% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
WELL represents 11.43% of XLRE's portfolio, so part of any move in XLRE is WELL itself, and the correlation between them is partly mechanical.
Are WELL and XLRE good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between WELL and XLRE?
The WELL/XLRE correlation stands at 0.61 on a 3-year window (1 year: 0.67, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is XLRE a good diversifier for WELL?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 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.
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Related comparisons
Hubs: WELL correlations · XLRE correlations
