BR vs XLI: Correlation
Broadridge Financial Solutions (BR) and Industrial Select Sector SPDR Fund (XLI) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BR and XLI?
Across a 3-year window, the weekly returns of BR and XLI correlate at 0.31, moderate. The past 12 months show a weaker link (-0.09) than the 3-year average (0.31). Stretching to 5 years gives 0.48, with an annualized covariance of 110.2 %².
By 3-year correlation, XLI places #35 of the 45 assets tracked against BR. The last year tells two different stories: XLI led by 45.9 percentage points, -27.6% for BR against +18.3% for XLI. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.00 to 0.69.
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.
BR vs XLI: side by side
| BR (Broadridge Financial Solutions) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -27.6% | +18.3% |
| 5-year return | +16.0% | +84.0% |
| Volatility (ann.) | 22.6% | 15.7% |
| Beta vs S&P 500 | 0.65 | 0.89 |
| Max drawdown (3Y) | -48.2% | -18.5% |
| Market cap | $20.9B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.15% | 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 | BR | XLI |
|---|---|---|
| 2022 | -25.3% | -5.6% |
| 2023 | +56.2% | +18.1% |
| 2024 | +11.7% | +17.3% |
| 2025 | +0.3% | +19.3% |
| 2026 | -17.0% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
BR represents 0.37% of XLI's portfolio, so part of any move in XLI is BR itself, and the correlation between them is partly mechanical.
Are BR and XLI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BR and XLI?
As of 2026-08-27, the correlation of weekly returns between BR and XLI is 0.31 over 3 years, -0.09 over 1 year and 0.48 over 5 years.
Is XLI a good diversifier for BR?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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/br-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/br-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BR correlations · XLI correlations
