ADBE vs XLK: Correlation
How closely do Adobe Inc. (ADBE) and Technology Select Sector SPDR Fund (XLK) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADBE and XLK?
On 3 years of weekly data the ADBE/XLK correlation comes out at 0.39, moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.39). The 5-year figure is 0.58, and annualized covariance runs at 324.2 %².
By 3-year correlation, XLK places #22 of the 32 assets tracked against ADBE. Their recent paths diverged sharply: over the last 12 months XLK outperformed by 62.3 percentage points (-18.9% for ADBE against +43.4% for XLK). This link changes with the market regime, having swung between 0.15 and 0.84 on a rolling one-year basis.
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.
ADBE vs XLK: side by side
| ADBE (Adobe Inc.) | XLK (Technology Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -18.9% | +43.4% |
| 5-year return | -56.6% | +145.2% |
| Volatility (ann.) | 35.1% | 24.0% |
| Beta vs S&P 500 | 1.04 | 1.50 |
| Max drawdown (3Y) | -69.5% | -25.7% |
| Market cap | $114.9B | – |
| P/E (trailing) | 15.6 | – |
| Dividend yield | 0.00% | 0.45% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $115.4B |
| Sector / category | Information Technology | Sector ETF |
On the fund side, XLK sits in the Technology category at State Street Investment Management, with $115.4B under management, 73 holdings, a 0.08% expense ratio, a 0.45% trailing dividend yield.
Year-by-year returns
| Year | ADBE | XLK |
|---|---|---|
| 2022 | -40.7% | -27.7% |
| 2023 | +77.3% | +56.0% |
| 2024 | -25.5% | +21.6% |
| 2025 | -21.3% | +24.6% |
| 2026 | -17.4% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.74% of XLK is ADBE itself, so the fund partly moves with the stock by construction.
Are ADBE and XLK good diversifiers for each other?
Reasonably. At 0.39, ADBE and XLK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ADBE and XLK?
The ADBE/XLK correlation stands at 0.39 on a 3-year window (1 year: 0.15, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is XLK a good diversifier for ADBE?
Reasonably. At 0.39, ADBE and XLK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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/adbe-vs-xlk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adbe-vs-xlk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ADBE correlations · XLK correlations
