CR vs XLI: Correlation
Measured on weekly returns over the past three years, Crane Company (CR) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CR and XLI?
Across a 3-year window, the weekly returns of CR and XLI correlate at 0.67, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 329.3 %².
In CR's tracked universe of 17 assets, XLI sits right near the top at #2. Over the last 12 months XLI came out ahead by 9.9 percentage points (+8.4% against +18.3%). Note the risk asymmetry: CR runs 2.0 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.
CR vs XLI: side by side
| CR (Crane Company) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +8.4% | +18.3% |
| 5-year return | n/a | +84.0% |
| Volatility (ann.) | 31.2% | 15.7% |
| Beta vs S&P 500 | 1.13 | 0.89 |
| Max drawdown (3Y) | -28.0% | -18.5% |
| Market cap | $12.1B | – |
| P/E (trailing) | 36.6 | – |
| Dividend yield | 0.46% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | US Listed | 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 | CR | XLI |
|---|---|---|
| 2022 | – | -5.6% |
| 2023 | – | +18.1% |
| 2024 | +29.2% | +17.3% |
| 2025 | +22.2% | +19.3% |
| 2026 | +13.6% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CR and XLI good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CR and XLI?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.71 over the last year and n/a over 5 years.
Is XLI a good diversifier for CR?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
A reading of 0.67 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/cr-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cr-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CR correlations · XLI correlations
