CRBG vs XLF: Correlation
How closely do Corebridge Financial Inc. (CRBG) and Financial Select Sector SPDR Fund (XLF) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRBG and XLF?
On 3 years of weekly data the CRBG/XLF correlation comes out at 0.67, strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. The 5-year figure is 0.70, and annualized covariance runs at 333.8 %².
Among the 12 assets we track against CRBG, XLF ranks #5 by 3-year correlation. On 12-month performance XLF holds a 12.8-point edge, -3.5% against +9.3%. One caveat on sizing: CRBG is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CRBG vs XLF: side by side
| CRBG (Corebridge Financial Inc.) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -3.5% | +9.3% |
| 5-year return | n/a | +64.2% |
| Volatility (ann.) | 30.6% | 16.2% |
| Beta vs S&P 500 | 1.21 | 0.84 |
| Max drawdown (3Y) | -36.3% | -15.5% |
| Market cap | $14.5B | – |
| P/E (trailing) | 20.8 | – |
| Dividend yield | 3.01% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | US Listed | 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 | CRBG | XLF |
|---|---|---|
| 2022 | – | -10.6% |
| 2023 | +25.3% | +12.0% |
| 2024 | +42.8% | +30.6% |
| 2025 | +3.9% | +14.9% |
| 2026 | +10.2% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRBG and XLF good diversifiers for each other?
Only partially. A correlation of 0.67 means CRBG and XLF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CRBG and XLF?
As of 2026-08-27, the correlation of weekly returns between CRBG and XLF is 0.67 over 3 years, 0.64 over 1 year and 0.70 over 5 years.
Is XLF a good diversifier for CRBG?
Only partially. A correlation of 0.67 means CRBG and XLF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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.
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Related comparisons
Hubs: CRBG correlations · XLF correlations
