As all the three for loops have some dependencies it is difficult to vectorize the code.
you can try the following code, it is partially vectorized.
for i = 1:32
for j = 1:32
xsd = squeeze(matAL(i,1:500,:) .* conj(matAL(j,1:500,:)));
matCT(1:500,j,i) = abs(mean(exp(1i*angle(xsd(1:500,:)))'));