CRH vs XLB: Correlation
Measured on weekly returns over the past three years, CRH plc (CRH) and Materials Select Sector SPDR Fund (XLB) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRH and XLB?
Across a 3-year window, the weekly returns of CRH and XLB correlate at 0.64, strong. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 318.6 %².
Within CRH's tracked universe of 40 assets, XLB comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XLB ahead by 32.2 points (-14.6% versus +17.6%). Stability stands out here, with the rolling one-year correlation confined to 0.57 through 0.80. One caveat on sizing: CRH is 1.8 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.
CRH vs XLB: side by side
| CRH (CRH plc) | XLB (Materials Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -14.6% | +17.6% |
| 5-year return | +104.1% | +36.9% |
| Volatility (ann.) | 29.7% | 16.7% |
| Beta vs S&P 500 | 1.26 | 0.72 |
| Max drawdown (3Y) | -28.4% | -23.2% |
| Market cap | $63.6B | – |
| P/E (trailing) | 17.2 | – |
| Dividend yield | 1.57% | 1.68% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.3B |
| Sector / category | Materials | Sector ETF |
XLB is a Natural Resources fund from State Street Investment Management: $8.3B under management, 26 holdings, a 0.08% expense ratio, a 1.68% trailing dividend yield.
Year-by-year returns
| Year | CRH | XLB |
|---|---|---|
| 2022 | -20.5% | -12.3% |
| 2023 | +81.3% | +12.5% |
| 2024 | +35.9% | +0.1% |
| 2025 | +35.9% | +9.9% |
| 2026 | -22.6% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 4.12% of XLB is CRH itself, so the fund partly moves with the stock by construction.
Are CRH and XLB good diversifiers for each other?
To a limited degree. At 0.64 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 CRH and XLB?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.60 over the last year and 0.65 over 5 years.
Is XLB a good diversifier for CRH?
To a limited degree. At 0.64 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 0.64 mean?
A reading of 0.64 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/crh-vs-xlb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crh-vs-xlb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRH correlations · XLB correlations
