AEG vs XLF: Correlation
Measured on weekly returns over the past three years, Aegon Ltd. New York Registry Shares (AEG) and Financial Select Sector SPDR Fund (XLF) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEG and XLF?
Over the past 3 years, AEG and XLF moved with a correlation of 0.65, which is strong. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 259.4 %².
By 3-year correlation, XLF places #4 of the 10 assets tracked against AEG. On 12-month performance AEG holds a 11.3-point edge, +20.6% against +9.3%. One caveat on sizing: AEG is 1.5 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.
AEG vs XLF: side by side
| AEG (Aegon Ltd. New York Registry Shares) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +20.6% | +9.3% |
| 5-year return | +132.6% | +64.2% |
| Volatility (ann.) | 24.5% | 16.2% |
| Beta vs S&P 500 | 1.00 | 0.84 |
| Max drawdown (3Y) | -18.4% | -15.5% |
| Market cap | $13.6B | – |
| P/E (trailing) | 12.2 | – |
| Dividend yield | 4.56% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | US Listed | Sector ETF |
XLF is a Financial fund from State Street Investment Management: $57.9B under management, 77 holdings, a 0.08% expense ratio, a 1.42% trailing dividend yield.
Year-by-year returns
| Year | AEG | XLF |
|---|---|---|
| 2022 | +6.5% | -10.6% |
| 2023 | +21.2% | +12.0% |
| 2024 | +8.4% | +30.6% |
| 2025 | +35.1% | +14.9% |
| 2026 | +22.2% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEG and XLF good diversifiers for each other?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AEG and XLF?
The AEG/XLF correlation stands at 0.65 on a 3-year window (1 year: 0.56, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is XLF a good diversifier for AEG?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aeg-vs-xlf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aeg-vs-xlf/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AEG correlations · XLF correlations
