ABT vs XLP: Correlation
Abbott Laboratories (ABT) and Consumer Staples Select Sector SPDR Fund (XLP) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABT and XLP?
Over the past 3 years, ABT and XLP moved with a correlation of 0.40, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.25 versus 0.40 over 3 years. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 96.8 %².
Within ABT's tracked universe of 29 assets, XLP comes in at #12 by 3-year correlation. The last year tells two different stories: XLP led by 21.5 percentage points, -13.2% for ABT against +8.3% for XLP. The rolling one-year correlation moved between 0.24 and 0.66 over the past three years, a moderate range. One caveat on sizing: ABT is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ABT vs XLP: side by side
| ABT (Abbott Laboratories) | XLP (Consumer Staples Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -13.2% | +8.3% |
| 5-year return | -2.3% | +34.7% |
| Volatility (ann.) | 22.0% | 11.1% |
| Beta vs S&P 500 | 0.16 | 0.23 |
| Max drawdown (3Y) | -39.6% | -9.7% |
| Market cap | $193.1B | – |
| P/E (trailing) | 37.0 | – |
| Dividend yield | 2.17% | 2.58% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $14.6B |
| Sector / category | Health Care | Sector ETF |
On the fund side, XLP sits in the Consumer Defensive category at State Street Investment Management, with $14.6B under management, 35 holdings, a 0.08% expense ratio, a 2.58% trailing dividend yield.
Year-by-year returns
| Year | ABT | XLP |
|---|---|---|
| 2022 | -20.7% | -0.8% |
| 2023 | +2.3% | -0.8% |
| 2024 | +4.8% | +12.2% |
| 2025 | +12.9% | +1.5% |
| 2026 | -9.3% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABT and XLP good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ABT and XLP?
As of 2026-08-27, the correlation of weekly returns between ABT and XLP is 0.40 over 3 years, 0.25 over 1 year and 0.46 over 5 years.
Is XLP a good diversifier for ABT?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 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/abt-vs-xlp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/abt-vs-xlp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ABT correlations · XLP correlations
