CTVA vs XLB: Correlation
Corteva (CTVA) and Materials Select Sector SPDR Fund (XLB) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTVA and XLB?
Across a 3-year window, the weekly returns of CTVA and XLB correlate at 0.52, moderate. The past 12 months show a weaker link (0.37) than the 3-year average (0.52). Stretching to 5 years gives 0.59, with an annualized covariance of 231.5 %².
Few assets follow CTVA as closely as XLB, which ranks #2 of 34 tracked partners. The trailing year gives XLB the advantage: +10.9% versus +17.6%, a 6.7-point spread. The rolling one-year correlation moved between 0.37 and 0.72 over the past three years, a moderate range. Note the risk asymmetry: CTVA runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CTVA vs XLB: side by side
| CTVA (Corteva) | XLB (Materials Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +10.9% | +17.6% |
| 5-year return | +98.2% | +36.9% |
| Volatility (ann.) | 26.8% | 16.7% |
| Beta vs S&P 500 | 0.43 | 0.72 |
| Max drawdown (3Y) | -20.7% | -23.2% |
| Market cap | $55.0B | – |
| P/E (trailing) | 50.2 | – |
| Dividend yield | 0.87% | 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 | CTVA | XLB |
|---|---|---|
| 2022 | +25.6% | -12.3% |
| 2023 | -17.5% | +12.5% |
| 2024 | +20.2% | +0.1% |
| 2025 | +18.9% | +9.9% |
| 2026 | +23.5% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLB holds CTVA at a 4.72% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are CTVA and XLB good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CTVA and XLB?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.37 over the last year and 0.59 over 5 years.
Is XLB a good diversifier for CTVA?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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/ctva-vs-xlb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctva-vs-xlb/)
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Related comparisons
Hubs: CTVA correlations · XLB correlations
