BLNE vs XLE: Correlation
Beeline Holdings, Inc. (BLNE) and Energy Select Sector SPDR Fund (XLE) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLNE and XLE?
Over the past 3 years, BLNE and XLE moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.21 over 3. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -658.0 %².
Within BLNE's tracked universe of 19 assets, XLE comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XLE ahead by 80.2 points (-36.2% versus +44.0%). One caveat on sizing: BLNE is 5.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BLNE vs XLE: side by side
| BLNE (Beeline Holdings, Inc.) | XLE (Energy Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -36.2% | +44.0% |
| 5-year return | -99.8% | +206.7% |
| Volatility (ann.) | 136.3% | 23.1% |
| Beta vs S&P 500 | 0.59 | 0.27 |
| Max drawdown (3Y) | -96.7% | -20.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.55% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $39.2B |
| Sector / category | US Listed | Sector ETF |
XLE is an Equity Energy fund from State Street Investment Management: $39.2B under management, 22 holdings, a 0.08% expense ratio, a 2.55% trailing dividend yield.
Year-by-year returns
| Year | BLNE | XLE |
|---|---|---|
| 2022 | -87.2% | +64.3% |
| 2023 | -71.8% | -0.6% |
| 2024 | -25.3% | +5.6% |
| 2025 | -82.1% | +7.9% |
| 2026 | -42.8% | +41.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLNE and XLE good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BLNE and XLE?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.22 over the last year and -0.08 over 5 years.
Is XLE a good diversifier for BLNE?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/blne-vs-xle.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/blne-vs-xle/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BLNE correlations · XLE correlations
