ASG vs XLY: Correlation
How closely do Liberty All-Star Growth Fund, Inc. (ASG) and Consumer Discretionary Select Sector SPDR Fund (XLY) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and XLY?
On 3 years of weekly data the ASG/XLY correlation comes out at 0.78, strong. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. The 5-year figure is 0.77, and annualized covariance runs at 282.2 %².
By 3-year correlation, XLY places #11 of the 52 assets tracked against ASG. Neither side won the trailing year by much: +3.3% against -0.1%.
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.
ASG vs XLY: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | XLY (Consumer Discretionary Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +3.3% | -0.1% |
| 5-year return | -5.6% | +31.8% |
| Volatility (ann.) | 18.3% | 19.7% |
| Beta vs S&P 500 | 1.12 | 1.15 |
| Max drawdown (3Y) | -25.3% | -26.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 8.76% | 0.78% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $22.5B |
| Sector / category | US Listed | Sector ETF |
XLY is a Consumer Cyclical fund from State Street Investment Management: $22.5B under management, 47 holdings, a 0.08% expense ratio, a 0.78% trailing dividend yield.
Year-by-year returns
| Year | ASG | XLY |
|---|---|---|
| 2022 | -40.9% | -36.3% |
| 2023 | +16.2% | +39.6% |
| 2024 | +16.8% | +26.5% |
| 2025 | +2.2% | +7.4% |
| 2026 | +6.0% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and XLY good diversifiers for each other?
To a limited degree. At 0.78 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 ASG and XLY?
The ASG/XLY correlation stands at 0.78 on a 3-year window (1 year: 0.78, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is XLY a good diversifier for ASG?
To a limited degree. At 0.78 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 0.78 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.
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Related comparisons
Hubs: ASG correlations · XLY correlations
