D vs XLU: Correlation
Dominion Energy (D) and Utilities Select Sector SPDR Fund (XLU) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are D and XLU?
Across a 3-year window, the weekly returns of D and XLU correlate at 0.75, strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.75 over 3. Stretching to 5 years gives 0.78, with an annualized covariance of 242.3 %².
XLU is one of the assets that tracks D most closely: it ranks #1 out of the 31 assets we track against D. The trailing year gives D the advantage: +15.1% versus +4.1%, a 11.0-point spread. The link looks structural: the rolling one-year correlation barely moved, holding between 0.64 and 0.85.
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.
D vs XLU: side by side
| D (Dominion Energy) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +15.1% | +4.1% |
| 5-year return | +6.1% | +46.3% |
| Volatility (ann.) | 20.5% | 15.8% |
| Beta vs S&P 500 | 0.18 | 0.26 |
| Max drawdown (3Y) | -19.1% | -13.1% |
| Market cap | $58.5B | – |
| P/E (trailing) | 23.2 | – |
| Dividend yield | 3.99% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | Utilities | Sector ETF |
XLU is an Utilities fund from State Street Investment Management: $23.1B under management, 31 holdings, a 0.08% expense ratio, a 2.70% trailing dividend yield.
Year-by-year returns
| Year | D | XLU |
|---|---|---|
| 2022 | -19.1% | +1.4% |
| 2023 | -19.1% | -7.2% |
| 2024 | +20.4% | +23.3% |
| 2025 | +14.0% | +16.0% |
| 2026 | +15.9% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
D represents 4.33% of XLU's portfolio, so part of any move in XLU is D itself, and the correlation between them is partly mechanical.
Are D and XLU good diversifiers for each other?
To a limited degree. At 0.75 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 D and XLU?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.73 over the last year and 0.78 over 5 years.
Is XLU a good diversifier for D?
To a limited degree. At 0.75 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 0.75 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/d-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/d-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: D correlations · XLU correlations
