ATMU vs XLI: Correlation
How closely do Atmus Filtration Technologies Inc. (ATMU) and Industrial Select Sector SPDR Fund (XLI) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMU and XLI?
On 3 years of weekly data the ATMU/XLI correlation comes out at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.63 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 320.7 %².
Within ATMU's tracked universe of 12 assets, XLI comes in at #4 by 3-year correlation. The trailing year gives XLI the advantage: +9.9% versus +18.3%, a 8.4-point spread. Note the risk asymmetry: ATMU runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ATMU vs XLI: side by side
| ATMU (Atmus Filtration Technologies Inc.) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +9.9% | +18.3% |
| 5-year return | n/a | +84.0% |
| Volatility (ann.) | 32.4% | 15.7% |
| Beta vs S&P 500 | 1.02 | 0.89 |
| Max drawdown (3Y) | -30.2% | -18.5% |
| Market cap | $4.0B | – |
| P/E (trailing) | 19.0 | – |
| Dividend yield | 0.45% | 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 | ATMU | XLI |
|---|---|---|
| 2022 | – | -5.6% |
| 2023 | – | +18.1% |
| 2024 | +67.3% | +17.3% |
| 2025 | +33.2% | +19.3% |
| 2026 | -5.8% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMU and XLI good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ATMU and XLI?
The ATMU/XLI correlation stands at 0.63 on a 3-year window (1 year: 0.46, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is XLI a good diversifier for ATMU?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/atmu-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/atmu-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATMU correlations · XLI correlations
