BEPC vs XLU: Correlation
How closely do Brookfield Renewable Corporation Brookfield Renewable (BEPC) and Utilities Select Sector SPDR Fund (XLU) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEPC and XLU?
Over the past 3 years, BEPC and XLU moved with a correlation of 0.52, which is moderate. The past 12 months show a weaker link (0.33) than the 3-year average (0.52). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 285.3 %².
By 3-year correlation, XLU places #5 of the 11 assets tracked against BEPC. Twelve-month performance is nearly a tie, at +0.4% for BEPC and +4.1% for XLU. Risk is not evenly split, since BEPC carries 2.2 times the volatility of the other side.
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.
BEPC vs XLU: side by side
| BEPC (Brookfield Renewable Corporation Brookfield Renewable) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +0.4% | +4.1% |
| 5-year return | -8.5% | +46.3% |
| Volatility (ann.) | 34.5% | 15.8% |
| Beta vs S&P 500 | 0.80 | 0.26 |
| Max drawdown (3Y) | -28.6% | -13.1% |
| Market cap | $6.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.33% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | US Listed | Sector ETF |
XLU is an Utilities fund from State Street Investment Management: $23.1B under management, 31 holdings, a 0.08% expense ratio, a 2.70% trailing dividend yield.
Year-by-year returns
| Year | BEPC | XLU |
|---|---|---|
| 2022 | -22.5% | +1.4% |
| 2023 | +9.5% | -7.2% |
| 2024 | +1.0% | +23.3% |
| 2025 | +45.2% | +16.0% |
| 2026 | -12.3% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEPC and XLU good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BEPC and XLU?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.33 over the last year and 0.52 over 5 years.
Is XLU a good diversifier for BEPC?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/bepc-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bepc-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BEPC correlations · XLU correlations
