COIN vs XLY: Correlation
Coinbase (COIN) and Consumer Discretionary Select Sector SPDR Fund (XLY) 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 COIN and XLY?
Across a 3-year window, the weekly returns of COIN and XLY correlate at 0.51, moderate. The link has loosened recently: the 1-year correlation (0.40) runs below the 3-year figure (0.51). Stretching to 5 years gives 0.57, with an annualized covariance of 802.3 %².
By 3-year correlation, XLY places #11 of the 34 assets tracked against COIN. The last year tells two different stories: XLY led by 38.2 percentage points, -38.3% for COIN against -0.1% for XLY. The rolling one-year correlation moved between 0.33 and 0.68 over the past three years, a moderate range. Note the risk asymmetry: COIN runs 4.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
COIN vs XLY: side by side
| COIN (Coinbase) | XLY (Consumer Discretionary Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -38.3% | -0.1% |
| 5-year return | -27.4% | +31.8% |
| Volatility (ann.) | 80.0% | 19.7% |
| Beta vs S&P 500 | 2.66 | 1.15 |
| Max drawdown (3Y) | -66.4% | -26.0% |
| Market cap | $50.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.78% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $22.5B |
| Sector / category | Financials | Sector ETF |
XLY is a Consumer Cyclical fund from State Street Investment Management: $22.5B under management, 47 holdings, a 0.08% expense ratio, a 0.78% trailing dividend yield.
Year-by-year returns
| Year | COIN | XLY |
|---|---|---|
| 2022 | -86.0% | -36.3% |
| 2023 | +391.4% | +39.6% |
| 2024 | +42.8% | +26.5% |
| 2025 | -8.9% | +7.4% |
| 2026 | -15.7% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COIN and XLY good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between COIN and XLY?
As of 2026-08-27, the correlation of weekly returns between COIN and XLY is 0.51 over 3 years, 0.40 over 1 year and 0.57 over 5 years.
Is XLY a good diversifier for COIN?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
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/coin-vs-xly.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/coin-vs-xly/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COIN correlations · XLY correlations
