APG vs XLI: Correlation
Measured on weekly returns over the past three years, APi Group Corporation (APG) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APG and XLI?
On 3 years of weekly data the APG/XLI correlation comes out at 0.66, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.66 over 3. The 5-year figure is 0.71, and annualized covariance runs at 283.5 %².
Few assets follow APG as closely as XLI, which ranks #2 of 12 tracked partners. Twelve-month performance is nearly a tie, at +13.5% for APG and +18.3% for XLI. One caveat on sizing: APG is 1.7 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.
APG vs XLI: side by side
| APG (APi Group Corporation) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +13.5% | +18.3% |
| 5-year return | +165.2% | +84.0% |
| Volatility (ann.) | 27.2% | 15.7% |
| Beta vs S&P 500 | 1.14 | 0.89 |
| Max drawdown (3Y) | -22.2% | -18.5% |
| Market cap | $17.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | APG | XLI |
|---|---|---|
| 2022 | -27.0% | -5.6% |
| 2023 | +83.9% | +18.1% |
| 2024 | +4.0% | +17.3% |
| 2025 | +59.5% | +19.3% |
| 2026 | +7.8% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APG and XLI good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APG and XLI?
The APG/XLI correlation stands at 0.66 on a 3-year window (1 year: 0.69, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is XLI a good diversifier for APG?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
A reading of 0.66 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/apg-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apg-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APG correlations · XLI correlations
