ATR vs XLB: Correlation
How closely do AptarGroup, Inc. (ATR) and Materials Select Sector SPDR Fund (XLB) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATR and XLB?
Across a 3-year window, the weekly returns of ATR and XLB correlate at 0.62, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.62 over 3. Stretching to 5 years gives 0.65, with an annualized covariance of 219.6 %².
Few assets follow ATR as closely as XLB, which ranks #3 of 19 tracked partners. Correlation aside, the last 12 months split them widely, with XLB ahead by 20.9 points (-3.3% versus +17.6%).
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.
ATR vs XLB: side by side
| ATR (AptarGroup, Inc.) | XLB (Materials Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -3.3% | +17.6% |
| 5-year return | +4.9% | +36.9% |
| Volatility (ann.) | 21.0% | 16.7% |
| Beta vs S&P 500 | 0.53 | 0.72 |
| Max drawdown (3Y) | -35.2% | -23.2% |
| Market cap | $8.4B | – |
| P/E (trailing) | 24.4 | – |
| Dividend yield | 1.40% | 1.68% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.3B |
| Sector / category | US Listed | Sector ETF |
XLB is a Natural Resources fund from State Street Investment Management: $8.3B under management, 26 holdings, a 0.08% expense ratio, a 1.68% trailing dividend yield.
Year-by-year returns
| Year | ATR | XLB |
|---|---|---|
| 2022 | -8.9% | -12.3% |
| 2023 | +13.9% | +12.5% |
| 2024 | +28.6% | +0.1% |
| 2025 | -21.4% | +9.9% |
| 2026 | +10.2% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATR and XLB good diversifiers for each other?
To a limited degree. At 0.62 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 ATR and XLB?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.69 over the last year and 0.65 over 5 years.
Is XLB a good diversifier for ATR?
To a limited degree. At 0.62 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 0.62 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atr-vs-xlb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atr-vs-xlb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATR correlations · XLB correlations
