DASH vs XLC: Correlation
Measured on weekly returns over the past three years, DoorDash (DASH) and Communication Services Select Sector SPDR Fund (XLC) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DASH and XLC?
Across a 3-year window, the weekly returns of DASH and XLC correlate at 0.59, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 413.6 %².
Within DASH's tracked universe of 36 assets, XLC comes in at #4 by 3-year correlation. Over the last 12 months XLC came out ahead by 7.1 percentage points (-5.6% against +1.5%). Across three years, the rolling one-year figure varied moderately, from 0.43 to 0.76. Note the risk asymmetry: DASH runs 2.8 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.
DASH vs XLC: side by side
| DASH (DoorDash) | XLC (Communication Services Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -5.6% | +1.5% |
| 5-year return | +20.3% | +37.5% |
| Volatility (ann.) | 44.1% | 16.0% |
| Beta vs S&P 500 | 1.73 | 0.90 |
| Max drawdown (3Y) | -48.0% | -18.0% |
| Market cap | $101.0B | – |
| P/E (trailing) | 123.3 | – |
| Dividend yield | 0.00% | 1.32% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $21.7B |
| Sector / category | Consumer Discretionary | Sector ETF |
On the fund side, XLC sits in the Communications category at State Street Investment Management, with $21.7B under management, 24 holdings, a 0.08% expense ratio, a 1.32% trailing dividend yield.
Year-by-year returns
| Year | DASH | XLC |
|---|---|---|
| 2022 | -67.2% | -37.6% |
| 2023 | +102.6% | +52.8% |
| 2024 | +69.6% | +34.7% |
| 2025 | +35.0% | +23.1% |
| 2026 | +2.4% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DASH and XLC good diversifiers for each other?
To a limited degree. At 0.59 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 DASH and XLC?
As of 2026-08-27, the correlation of weekly returns between DASH and XLC is 0.59 over 3 years, 0.53 over 1 year and 0.60 over 5 years.
Is XLC a good diversifier for DASH?
To a limited degree. At 0.59 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 0.59 mean?
A reading of 0.59 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/dash-vs-xlc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dash-vs-xlc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DASH correlations · XLC correlations
