APH vs XLK: Correlation
Measured on weekly returns over the past three years, Amphenol (APH) and Technology Select Sector SPDR Fund (XLK) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APH and XLK?
Across a 3-year window, the weekly returns of APH and XLK correlate at 0.67, strong. The past 12 months show a weaker link (0.47) than the 3-year average (0.67). Stretching to 5 years gives 0.70, with an annualized covariance of 544.1 %².
Among the 38 assets we track against APH, XLK ranks #15 by 3-year correlation. Neither side won the trailing year by much: +47.5% against +43.4%. Across three years, the rolling one-year figure varied moderately, from 0.38 to 0.84.
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.
APH vs XLK: side by side
| APH (Amphenol) | XLK (Technology Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +47.5% | +43.4% |
| 5-year return | +338.9% | +145.2% |
| Volatility (ann.) | 33.6% | 24.0% |
| Beta vs S&P 500 | 1.57 | 1.50 |
| Max drawdown (3Y) | -28.2% | -25.7% |
| Market cap | $199.0B | – |
| P/E (trailing) | 40.3 | – |
| Dividend yield | 0.57% | 0.45% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $115.4B |
| Sector / category | Information Technology | Sector ETF |
On the fund side, XLK sits in the Technology category at State Street Investment Management, with $115.4B under management, 73 holdings, a 0.08% expense ratio, a 0.45% trailing dividend yield.
Year-by-year returns
| Year | APH | XLK |
|---|---|---|
| 2022 | -12.0% | -27.7% |
| 2023 | +31.5% | +56.0% |
| 2024 | +41.3% | +21.6% |
| 2025 | +96.1% | +24.6% |
| 2026 | +19.8% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLK holds APH at a 1.33% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are APH and XLK good diversifiers for each other?
To a limited degree. At 0.67 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 APH and XLK?
The APH/XLK correlation stands at 0.67 on a 3-year window (1 year: 0.47, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is XLK a good diversifier for APH?
To a limited degree. At 0.67 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 0.67 mean?
On the −1 to +1 scale, 0.67 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aph-vs-xlk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aph-vs-xlk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APH correlations · XLK correlations
