CRH vs XLI: Correlation
Measured on weekly returns over the past three years, CRH plc (CRH) 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 CRH and XLI?
On 3 years of weekly data the CRH/XLI correlation comes out at 0.67, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 314.8 %².
Within CRH's tracked universe of 40 assets, XLI comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XLI outperformed by 32.9 percentage points (-14.6% for CRH against +18.3% for XLI). The link looks structural: the rolling one-year correlation barely moved, holding between 0.59 and 0.83. One caveat on sizing: CRH 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.
CRH vs XLI: side by side
| CRH (CRH plc) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -14.6% | +18.3% |
| 5-year return | +104.1% | +84.0% |
| Volatility (ann.) | 29.7% | 15.7% |
| Beta vs S&P 500 | 1.26 | 0.89 |
| Max drawdown (3Y) | -28.4% | -18.5% |
| Market cap | $63.6B | – |
| P/E (trailing) | 17.2 | – |
| Dividend yield | 1.57% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Materials | 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 | CRH | XLI |
|---|---|---|
| 2022 | -20.5% | -5.6% |
| 2023 | +81.3% | +18.1% |
| 2024 | +35.9% | +17.3% |
| 2025 | +35.9% | +19.3% |
| 2026 | -22.6% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRH and XLI good diversifiers for each other?
To a limited degree. At 0.67 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 XLI?
The CRH/XLI correlation stands at 0.67 on a 3-year window (1 year: 0.62, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is XLI a good diversifier for CRH?
To a limited degree. At 0.67 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 0.67 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/crh-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crh-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRH correlations · XLI correlations
