CMCSA vs XLC: Correlation
How closely do Comcast (CMCSA) and Communication Services Select Sector SPDR Fund (XLC) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMCSA and XLC?
Across a 3-year window, the weekly returns of CMCSA and XLC correlate at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 161.5 %².
Among the 39 assets we track against CMCSA, XLC ranks #16 by 3-year correlation. The trailing year gives XLC the advantage: -12.6% versus +1.5%, a 14.1-point spread. This link changes with the market regime, having swung between 0.11 and 0.74 on a rolling one-year basis.
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.
CMCSA vs XLC: side by side
| CMCSA (Comcast) | XLC (Communication Services Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -12.6% | +1.5% |
| 5-year return | -44.5% | +37.5% |
| Volatility (ann.) | 23.8% | 16.0% |
| Beta vs S&P 500 | 0.48 | 0.90 |
| Max drawdown (3Y) | -44.9% | -18.0% |
| Market cap | $93.7B | – |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 4.85% | 1.32% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $21.7B |
| Sector / category | Communication Services | Sector ETF |
On the fund side, XLC sits in the Communications category at State Street Investment Management, with $21.7B under management, 24 holdings, a 0.08% expense ratio, a 1.32% trailing dividend yield.
Year-by-year returns
| Year | CMCSA | XLC |
|---|---|---|
| 2022 | -28.7% | -37.6% |
| 2023 | +29.1% | +52.8% |
| 2024 | -11.8% | +34.7% |
| 2025 | -17.3% | +23.1% |
| 2026 | -2.2% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLC holds CMCSA at a 4.93% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are CMCSA and XLC good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CMCSA and XLC?
The CMCSA/XLC correlation stands at 0.43 on a 3-year window (1 year: 0.39, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is XLC a good diversifier for CMCSA?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cmcsa-vs-xlc.json
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[](https://www.pairbook.io/pair/cmcsa-vs-xlc/)
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Related comparisons
Hubs: CMCSA correlations · XLC correlations
