AEE vs XLU: Correlation
Ameren (AEE) and Utilities Select Sector SPDR Fund (XLU) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEE and XLU?
On 3 years of weekly data the AEE/XLU correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.89) sits close to the 3-year figure. The 5-year figure is 0.87, and annualized covariance runs at 224.8 %².
Within AEE's tracked universe of 35 assets, XLU comes in at #8 by 3-year correlation. Neither side won the trailing year by much: +8.8% against +4.1%. Across three years, the rolling one-year figure varied moderately, from 0.67 to 0.94.
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.
AEE vs XLU: side by side
| AEE (Ameren) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +8.8% | +4.1% |
| 5-year return | +39.7% | +46.3% |
| Volatility (ann.) | 17.8% | 15.8% |
| Beta vs S&P 500 | 0.10 | 0.26 |
| Max drawdown (3Y) | -16.5% | -13.1% |
| Market cap | $29.6B | – |
| P/E (trailing) | 19.0 | – |
| Dividend yield | 2.71% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | Utilities | Sector ETF |
XLU is an Utilities fund from State Street Investment Management: $23.1B under management, 31 holdings, a 0.08% expense ratio, a 2.70% trailing dividend yield.
Year-by-year returns
| Year | AEE | XLU |
|---|---|---|
| 2022 | +2.5% | +1.4% |
| 2023 | -16.1% | -7.2% |
| 2024 | +27.5% | +23.3% |
| 2025 | +15.3% | +16.0% |
| 2026 | +8.4% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 2.2% of XLU is AEE itself, so the fund partly moves with the stock by construction.
Are AEE and XLU good diversifiers for each other?
No: a correlation of 0.80 means AEE and XLU tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AEE and XLU?
Using weekly returns as of 2026-08-27: 0.80 over 3 years, with 0.89 over the last year and 0.87 over 5 years.
Is XLU a good diversifier for AEE?
No: a correlation of 0.80 means AEE and XLU tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 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/aee-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aee-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AEE correlations · XLU correlations
