AIZ vs XLF: Correlation
Measured on weekly returns over the past three years, Assurant (AIZ) and Financial Select Sector SPDR Fund (XLF) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIZ and XLF?
On 3 years of weekly data the AIZ/XLF correlation comes out at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 202.6 %².
Within AIZ's tracked universe of 34 assets, XLF comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AIZ ahead by 24.8 points (+34.1% versus +9.3%). The rolling one-year correlation moved between 0.32 and 0.74 over the past three years, a moderate range.
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.
AIZ vs XLF: side by side
| AIZ (Assurant) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +34.1% | +9.3% |
| 5-year return | +83.5% | +64.2% |
| Volatility (ann.) | 21.5% | 16.2% |
| Beta vs S&P 500 | 0.60 | 0.84 |
| Max drawdown (3Y) | -20.8% | -15.5% |
| Market cap | $14.1B | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 1.19% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | Financials | 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 | AIZ | XLF |
|---|---|---|
| 2022 | -18.3% | -10.6% |
| 2023 | +37.5% | +12.0% |
| 2024 | +28.5% | +30.6% |
| 2025 | +14.7% | +14.9% |
| 2026 | +19.4% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
AIZ represents 0.17% of XLF's portfolio, so part of any move in XLF is AIZ itself, and the correlation between them is partly mechanical.
Are AIZ and XLF good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AIZ and XLF?
As of 2026-08-27, the correlation of weekly returns between AIZ and XLF is 0.58 over 3 years, 0.51 over 1 year and 0.54 over 5 years.
Is XLF a good diversifier for AIZ?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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.
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Related comparisons
Hubs: AIZ correlations · XLF correlations
