ALSN vs XLI: Correlation
Measured on weekly returns over the past three years, Allison Transmission Holdings, Inc. (ALSN) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALSN and XLI?
Across a 3-year window, the weekly returns of ALSN and XLI correlate at 0.63, strong. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. Stretching to 5 years gives 0.63, with an annualized covariance of 295.3 %².
XLI is one of the assets that tracks ALSN most closely: it ranks #1 out of the 12 assets we track against ALSN. The last year tells two different stories: ALSN led by 28.0 percentage points, +46.3% for ALSN against +18.3% for XLI. One caveat on sizing: ALSN is 1.9 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.
ALSN vs XLI: side by side
| ALSN (Allison Transmission Holdings, Inc.) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +46.3% | +18.3% |
| 5-year return | +271.5% | +84.0% |
| Volatility (ann.) | 29.8% | 15.7% |
| Beta vs S&P 500 | 0.81 | 0.89 |
| Max drawdown (3Y) | -33.6% | -18.5% |
| Market cap | $10.7B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.87% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | US Listed | 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 | ALSN | XLI |
|---|---|---|
| 2022 | +16.9% | -5.6% |
| 2023 | +42.3% | +18.1% |
| 2024 | +88.0% | +17.3% |
| 2025 | -8.3% | +19.3% |
| 2026 | +32.9% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALSN and XLI good diversifiers for each other?
To a limited degree. At 0.63 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 ALSN and XLI?
As of 2026-08-27, the correlation of weekly returns between ALSN and XLI is 0.63 over 3 years, 0.56 over 1 year and 0.63 over 5 years.
Is XLI a good diversifier for ALSN?
To a limited degree. At 0.63 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 0.63 mean?
A reading of 0.63 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/alsn-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alsn-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALSN correlations · XLI correlations
