ADI vs XLK: Correlation
How closely do Analog Devices (ADI) and Technology Select Sector SPDR Fund (XLK) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADI and XLK?
On 3 years of weekly data the ADI/XLK correlation comes out at 0.68, strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 531.2 %².
Among the 51 assets we track against ADI, XLK ranks #19 by 3-year correlation. On 12-month performance ADI holds a 5.2-point edge, +48.6% against +43.4%. Across three years, the rolling one-year figure varied moderately, from 0.46 to 0.80.
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.
ADI vs XLK: side by side
| ADI (Analog Devices) | XLK (Technology Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +48.6% | +43.4% |
| 5-year return | +143.1% | +145.2% |
| Volatility (ann.) | 32.6% | 24.0% |
| Beta vs S&P 500 | 1.56 | 1.50 |
| Max drawdown (3Y) | -32.2% | -25.7% |
| Market cap | $181.5B | – |
| P/E (trailing) | 44.6 | – |
| Dividend yield | 1.15% | 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 | ADI | XLK |
|---|---|---|
| 2022 | -4.9% | -27.7% |
| 2023 | +23.4% | +56.0% |
| 2024 | +8.8% | +21.6% |
| 2025 | +29.8% | +24.6% |
| 2026 | +38.9% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.21% of XLK is ADI itself, so the fund partly moves with the stock by construction.
Are ADI and XLK good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ADI and XLK?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.61 over the last year and 0.69 over 5 years.
Is XLK a good diversifier for ADI?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adi-vs-xlk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adi-vs-xlk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ADI correlations · XLK correlations
