CTAS vs XLF: Correlation
Measured on weekly returns over the past three years, Cintas (CTAS) and Financial Select Sector SPDR Fund (XLF) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTAS and XLF?
On 3 years of weekly data the CTAS/XLF correlation comes out at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 196.2 %².
Among the 38 assets we track against CTAS, XLF ranks #10 by 3-year correlation. On 12-month performance XLF holds a 12.6-point edge, -3.3% against +9.3%. The rolling one-year correlation moved between 0.41 and 0.66 over the past three years, a moderate range.
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.
CTAS vs XLF: side by side
| CTAS (Cintas) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -3.3% | +9.3% |
| 5-year return | +117.4% | +64.2% |
| Volatility (ann.) | 23.2% | 16.2% |
| Beta vs S&P 500 | 0.71 | 0.84 |
| Max drawdown (3Y) | -27.7% | -15.5% |
| Market cap | $81.7B | – |
| P/E (trailing) | 41.8 | – |
| Dividend yield | 0.87% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | Industrials | 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 | CTAS | XLF |
|---|---|---|
| 2022 | +3.0% | -10.6% |
| 2023 | +34.8% | +12.0% |
| 2024 | +22.2% | +30.6% |
| 2025 | +3.8% | +14.9% |
| 2026 | +9.4% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTAS and XLF good diversifiers for each other?
To a limited degree. At 0.52 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 CTAS and XLF?
As of 2026-08-27, the correlation of weekly returns between CTAS and XLF is 0.52 over 3 years, 0.46 over 1 year and 0.57 over 5 years.
Is XLF a good diversifier for CTAS?
To a limited degree. At 0.52 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 0.52 mean?
A reading of 0.52 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: CTAS correlations · XLF correlations
