DCI vs XLI: Correlation
How closely do Donaldson Company, Inc. (DCI) and Industrial Select Sector SPDR Fund (XLI) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCI and XLI?
Over the past 3 years, DCI and XLI moved with a correlation of 0.68, which is strong. The link has loosened recently: the 1-year correlation (0.52) runs below the 3-year figure (0.68). Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 225.1 %².
Few assets follow DCI as closely as XLI, which ranks #2 of 15 tracked partners. Neither side won the trailing year by much: +14.0% against +18.3%.
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.
DCI vs XLI: side by side
| DCI (Donaldson Company, Inc.) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +14.0% | +18.3% |
| 5-year return | +44.4% | +84.0% |
| Volatility (ann.) | 21.0% | 15.7% |
| Beta vs S&P 500 | 0.74 | 0.89 |
| Max drawdown (3Y) | -26.0% | -18.5% |
| Market cap | – | – |
| P/E (trailing) | 24.8 | – |
| Dividend yield | 1.30% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | US Listed | 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 | DCI | XLI |
|---|---|---|
| 2022 | +1.0% | -5.6% |
| 2023 | +12.8% | +18.1% |
| 2024 | +4.6% | +17.3% |
| 2025 | +33.7% | +19.3% |
| 2026 | +5.3% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCI and XLI good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DCI and XLI?
The DCI/XLI correlation stands at 0.68 on a 3-year window (1 year: 0.52, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is XLI a good diversifier for DCI?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 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/dci-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dci-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DCI correlations · XLI correlations
