BLDR vs XLI: Correlation
Measured on weekly returns over the past three years, Builders FirstSource (BLDR) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLDR and XLI?
Over the past 3 years, BLDR and XLI moved with a correlation of 0.55, which is moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.55 over 3. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 396.8 %².
By 3-year correlation, XLI places #31 of the 48 assets tracked against BLDR. Correlation aside, the last 12 months split them widely, with XLI ahead by 70.9 points (-52.6% versus +18.3%). On a rolling one-year basis the correlation drifted between 0.37 and 0.70, a moderate band. Risk is not evenly split, since BLDR carries 2.9 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.
BLDR vs XLI: side by side
| BLDR (Builders FirstSource) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -52.6% | +18.3% |
| 5-year return | +25.8% | +84.0% |
| Volatility (ann.) | 45.6% | 15.7% |
| Beta vs S&P 500 | 1.36 | 0.89 |
| Max drawdown (3Y) | -68.7% | -18.5% |
| Market cap | $7.2B | – |
| P/E (trailing) | 74.7 | – |
| Dividend yield | 0.00% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Industrials | 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 | BLDR | XLI |
|---|---|---|
| 2022 | -24.3% | -5.6% |
| 2023 | +157.3% | +18.1% |
| 2024 | -14.4% | +17.3% |
| 2025 | -28.0% | +19.3% |
| 2026 | -34.7% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
BLDR represents 0.13% of XLI's portfolio, so part of any move in XLI is BLDR itself, and the correlation between them is partly mechanical.
Are BLDR and XLI good diversifiers for each other?
To a limited degree. At 0.55 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 BLDR and XLI?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.55 over the last year and 0.55 over 5 years.
Is XLI a good diversifier for BLDR?
To a limited degree. At 0.55 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 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bldr-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bldr-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BLDR correlations · XLI correlations
