ALGN vs XLI: Correlation
How closely do Align Technology (ALGN) and Industrial Select Sector SPDR Fund (XLI) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and XLI?
Across a 3-year window, the weekly returns of ALGN and XLI correlate at 0.53, moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.53 over 3. Stretching to 5 years gives 0.54, with an annualized covariance of 371.9 %².
By 3-year correlation, XLI places #15 of the 37 assets tracked against ALGN. Over the last 12 months XLI came out ahead by 6.4 percentage points (+11.9% against +18.3%). Stability stands out here, with the rolling one-year correlation confined to 0.40 through 0.63. One caveat on sizing: ALGN is 2.8 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.
ALGN vs XLI: side by side
| ALGN (Align Technology) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +11.9% | +18.3% |
| 5-year return | -77.4% | +84.0% |
| Volatility (ann.) | 44.3% | 15.7% |
| Beta vs S&P 500 | 1.51 | 0.89 |
| Max drawdown (3Y) | -66.7% | -18.5% |
| Market cap | $11.3B | – |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 0.00% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Health Care | Sector ETF |
XLI is an Industrials fund from State Street Investment Management: $32.9B under management, 83 holdings, a 0.08% expense ratio, a 1.15% trailing dividend yield.
Year-by-year returns
| Year | ALGN | XLI |
|---|---|---|
| 2022 | -67.9% | -5.6% |
| 2023 | +29.9% | +18.1% |
| 2024 | -23.9% | +17.3% |
| 2025 | -25.1% | +19.3% |
| 2026 | +1.7% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGN and XLI good diversifiers for each other?
To a limited degree. At 0.53 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 ALGN and XLI?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.59 over the last year and 0.54 over 5 years.
Is XLI a good diversifier for ALGN?
To a limited degree. At 0.53 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 0.53 mean?
A reading of 0.53 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/algn-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algn-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALGN correlations · XLI correlations
