CSX vs XLI: Correlation
Measured on weekly returns over the past three years, CSX Corporation (CSX) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSX and XLI?
Across a 3-year window, the weekly returns of CSX and XLI correlate at 0.62, strong. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.62 over 3 years. Stretching to 5 years gives 0.68, with an annualized covariance of 191.4 %².
Among the 30 assets we track against CSX, XLI ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CSX outperformed by 42.3 percentage points (+60.6% for CSX against +18.3% for XLI). On a rolling one-year basis the correlation drifted between 0.43 and 0.81, a moderate band.
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.
CSX vs XLI: side by side
| CSX (CSX Corporation) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +60.6% | +18.3% |
| 5-year return | +66.2% | +84.0% |
| Volatility (ann.) | 19.7% | 15.7% |
| Beta vs S&P 500 | 0.62 | 0.89 |
| Max drawdown (3Y) | -29.4% | -18.5% |
| Market cap | $95.5B | – |
| P/E (trailing) | 30.1 | – |
| Dividend yield | 1.04% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Industrials | 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 | CSX | XLI |
|---|---|---|
| 2022 | -16.6% | -5.6% |
| 2023 | +13.5% | +18.1% |
| 2024 | -5.6% | +17.3% |
| 2025 | +14.1% | +19.3% |
| 2026 | +43.1% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLI holds CSX at a 1.7% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are CSX and XLI good diversifiers for each other?
To a limited degree. At 0.62 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 CSX and XLI?
As of 2026-08-27, the correlation of weekly returns between CSX and XLI is 0.62 over 3 years, 0.43 over 1 year and 0.68 over 5 years.
Is XLI a good diversifier for CSX?
To a limited degree. At 0.62 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 0.62 mean?
A reading of 0.62 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/csx-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csx-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CSX correlations · XLI correlations
