CLX vs XLP: Correlation
Clorox (CLX) and Consumer Staples Select Sector SPDR Fund (XLP) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLX and XLP?
Across a 3-year window, the weekly returns of CLX and XLP correlate at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 138.8 %².
Few assets follow CLX as closely as XLP, which ranks #1 of 32 tracked partners. The last year tells two different stories: XLP led by 17.1 percentage points, -8.8% for CLX against +8.3% for XLP. Across three years, the rolling one-year figure varied moderately, from 0.35 to 0.68. Risk is not evenly split, since CLX 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.
CLX vs XLP: side by side
| CLX (Clorox) | XLP (Consumer Staples Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -8.8% | +8.3% |
| 5-year return | -26.0% | +34.7% |
| Volatility (ann.) | 24.4% | 11.1% |
| Beta vs S&P 500 | 0.39 | 0.23 |
| Max drawdown (3Y) | -46.1% | -9.7% |
| Market cap | $12.5B | – |
| P/E (trailing) | 21.7 | – |
| Dividend yield | 4.77% | 2.58% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $14.6B |
| Sector / category | Consumer Staples | Sector ETF |
On the fund side, XLP sits in the Consumer Defensive category at State Street Investment Management, with $14.6B under management, 35 holdings, a 0.08% expense ratio, a 2.58% trailing dividend yield.
Year-by-year returns
| Year | CLX | XLP |
|---|---|---|
| 2022 | -17.0% | -0.8% |
| 2023 | +5.0% | -0.8% |
| 2024 | +17.7% | +12.2% |
| 2025 | -35.6% | +1.5% |
| 2026 | +6.5% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLP holds CLX at a 0.79% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are CLX and XLP good diversifiers for each other?
To a limited degree. At 0.51 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 CLX and XLP?
As of 2026-08-27, the correlation of weekly returns between CLX and XLP is 0.51 over 3 years, 0.48 over 1 year and 0.60 over 5 years.
Is XLP a good diversifier for CLX?
To a limited degree. At 0.51 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 0.51 mean?
A reading of 0.51 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/clx-vs-xlp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/clx-vs-xlp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLX correlations · XLP correlations
