AMP vs XLF: Correlation
How closely do Ameriprise Financial (AMP) and Financial Select Sector SPDR Fund (XLF) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMP and XLF?
On 3 years of weekly data the AMP/XLF correlation comes out at 0.79, strong. The past 12 months show a weaker link (0.67) than the 3-year average (0.79). The 5-year figure is 0.84, and annualized covariance runs at 317.8 %².
Few assets follow AMP as closely as XLF, which ranks #2 of 34 tracked partners. Twelve-month performance is nearly a tie, at +8.7% for AMP and +9.3% for XLF. The rolling one-year correlation moved between 0.64 and 0.92 over the past three years, a moderate range. Risk is not evenly split, since AMP carries 1.5 times the volatility of the other side.
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.
AMP vs XLF: side by side
| AMP (Ameriprise Financial) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +8.7% | +9.3% |
| 5-year return | +119.2% | +64.2% |
| Volatility (ann.) | 25.0% | 16.2% |
| Beta vs S&P 500 | 1.09 | 0.84 |
| Max drawdown (3Y) | -26.4% | -15.5% |
| Market cap | $49.1B | – |
| P/E (trailing) | 13.5 | – |
| Dividend yield | 1.16% | 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 | AMP | XLF |
|---|---|---|
| 2022 | +5.0% | -10.6% |
| 2023 | +24.0% | +12.0% |
| 2024 | +42.1% | +30.6% |
| 2025 | -6.7% | +14.9% |
| 2026 | +14.5% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLF holds AMP at a 0.61% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are AMP and XLF good diversifiers for each other?
To a limited degree. At 0.79 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 AMP and XLF?
As of 2026-08-27, the correlation of weekly returns between AMP and XLF is 0.79 over 3 years, 0.67 over 1 year and 0.84 over 5 years.
Is XLF a good diversifier for AMP?
To a limited degree. At 0.79 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 0.79 mean?
A reading of 0.79 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AMP correlations · XLF correlations
