ADSK vs XLK: Correlation
Measured on weekly returns over the past three years, Autodesk (ADSK) and Technology Select Sector SPDR Fund (XLK) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADSK and XLK?
On 3 years of weekly data the ADSK/XLK correlation comes out at 0.44, moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.44). The 5-year figure is 0.61, and annualized covariance runs at 325.0 %².
By 3-year correlation, XLK places #33 of the 44 assets tracked against ADSK. Their recent paths diverged sharply: over the last 12 months XLK outperformed by 48.8 percentage points (-5.4% for ADSK against +43.4% for XLK). The relationship is regime-dependent: the rolling one-year correlation swung between 0.13 and 0.81 over the past three years, so this pair behaves very differently depending on the market environment.
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.
ADSK vs XLK: side by side
| ADSK (Autodesk) | XLK (Technology Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -5.4% | +43.4% |
| 5-year return | -13.7% | +145.2% |
| Volatility (ann.) | 30.9% | 24.0% |
| Beta vs S&P 500 | 1.04 | 1.50 |
| Max drawdown (3Y) | -42.6% | -25.7% |
| Market cap | $57.1B | – |
| P/E (trailing) | 37.2 | – |
| 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 | ADSK | XLK |
|---|---|---|
| 2022 | -33.5% | -27.7% |
| 2023 | +30.3% | +56.0% |
| 2024 | +21.4% | +21.6% |
| 2025 | +0.1% | +24.6% |
| 2026 | -8.6% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.36% of XLK is ADSK itself, so the fund partly moves with the stock by construction.
Are ADSK and XLK good diversifiers for each other?
Reasonably. At 0.44, ADSK and XLK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ADSK and XLK?
The ADSK/XLK correlation stands at 0.44 on a 3-year window (1 year: 0.15, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is XLK a good diversifier for ADSK?
Reasonably. At 0.44, ADSK and XLK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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/adsk-vs-xlk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adsk-vs-xlk/)
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Related comparisons
Hubs: ADSK correlations · XLK correlations
