AME vs XLI: Correlation
Ametek (AME) and Industrial Select Sector SPDR Fund (XLI) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AME and XLI?
Over the past 3 years, AME and XLI moved with a correlation of 0.71, which is strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 230.1 %².
Few assets follow AME as closely as XLI, which ranks #1 of 31 tracked partners. Over the last 12 months AME came out ahead by 13.1 percentage points (+31.4% against +18.3%). On a rolling one-year basis the correlation drifted between 0.59 and 0.86, a moderate band.
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.
AME vs XLI: side by side
| AME (Ametek) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +31.4% | +18.3% |
| 5-year return | +83.6% | +84.0% |
| Volatility (ann.) | 20.4% | 15.7% |
| Beta vs S&P 500 | 0.84 | 0.89 |
| Max drawdown (3Y) | -23.0% | -18.5% |
| Market cap | $55.9B | – |
| P/E (trailing) | 35.8 | – |
| Dividend yield | 0.53% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Industrials | 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 | AME | XLI |
|---|---|---|
| 2022 | -4.3% | -5.6% |
| 2023 | +18.8% | +18.1% |
| 2024 | +10.0% | +17.3% |
| 2025 | +14.7% | +19.3% |
| 2026 | +19.1% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.99% of XLI is AME itself, so the fund partly moves with the stock by construction.
Are AME and XLI good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AME and XLI?
The AME/XLI correlation stands at 0.71 on a 3-year window (1 year: 0.69, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is XLI a good diversifier for AME?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 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/ame-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ame-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AME correlations · XLI correlations
