CB vs XLF: Correlation
Chubb Limited (CB) and Financial Select Sector SPDR Fund (XLF) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CB and XLF?
On 3 years of weekly data the CB/XLF correlation comes out at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 135.3 %².
Among the 37 assets we track against CB, XLF ranks #22 by 3-year correlation. The last year tells two different stories: CB led by 15.4 percentage points, +24.7% for CB against +9.3% for XLF. On a rolling one-year basis the correlation drifted between 0.35 and 0.62, a moderate band.
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.
CB vs XLF: side by side
| CB (Chubb Limited) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +24.7% | +9.3% |
| 5-year return | +96.8% | +64.2% |
| Volatility (ann.) | 17.7% | 16.2% |
| Beta vs S&P 500 | 0.17 | 0.84 |
| Max drawdown (3Y) | -14.4% | -15.5% |
| Market cap | $130.5B | – |
| P/E (trailing) | 12.2 | – |
| Dividend yield | 1.14% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | Financials | Sector ETF |
XLF is a Financial fund from State Street Investment Management: $57.9B under management, 77 holdings, a 0.08% expense ratio, a 1.42% trailing dividend yield.
Year-by-year returns
| Year | CB | XLF |
|---|---|---|
| 2022 | +16.0% | -10.6% |
| 2023 | +4.2% | +12.0% |
| 2024 | +23.9% | +30.6% |
| 2025 | +13.7% | +14.9% |
| 2026 | +9.1% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLF holds CB at a 1.51% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are CB and XLF good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CB and XLF?
As of 2026-08-27, the correlation of weekly returns between CB and XLF is 0.47 over 3 years, 0.38 over 1 year and 0.57 over 5 years.
Is XLF a good diversifier for CB?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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.
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Related comparisons
Hubs: CB correlations · XLF correlations
