WPC vs XLRE: Correlation
Measured on weekly returns over the past three years, W. P. Carey Inc. REIT (WPC) and Real Estate Select Sector SPDR Fund (XLRE) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WPC and XLRE?
Across a 3-year window, the weekly returns of WPC and XLRE correlate at 0.71, strong. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 248.7 %².
By 3-year correlation, XLRE places #5 of the 20 assets tracked against WPC. Neither side won the trailing year by much: +11.2% against +9.5%.
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.
WPC vs XLRE: side by side
| WPC (W. P. Carey Inc. REIT) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +11.2% | +9.5% |
| 5-year return | +23.0% | +11.4% |
| Volatility (ann.) | 20.9% | 16.7% |
| Beta vs S&P 500 | 0.30 | 0.57 |
| Max drawdown (3Y) | -19.6% | -16.6% |
| Market cap | $16.0B | – |
| P/E (trailing) | 24.4 | – |
| Dividend yield | 5.20% | 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 | WPC | XLRE |
|---|---|---|
| 2022 | +0.5% | -26.2% |
| 2023 | -9.9% | +12.4% |
| 2024 | -10.6% | +5.1% |
| 2025 | +25.0% | +2.6% |
| 2026 | +12.3% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WPC and XLRE good diversifiers for each other?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between WPC and XLRE?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.80 over the last year and 0.69 over 5 years.
Is XLRE a good diversifier for WPC?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.71 mean?
A reading of 0.71 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/wpc-vs-xlre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/wpc-vs-xlre/)
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Related comparisons
Hubs: WPC correlations · XLRE correlations
