DECK vs XLY: Correlation
Deckers Brands (DECK) and Consumer Discretionary Select Sector SPDR Fund (XLY) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DECK and XLY?
On 3 years of weekly data the DECK/XLY correlation comes out at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 340.9 %².
By 3-year correlation, XLY places #15 of the 31 assets tracked against DECK. The last year tells two different stories: XLY led by 25.9 percentage points, -26.0% for DECK against -0.1% for XLY. Across three years, the rolling one-year figure varied moderately, from 0.12 to 0.59. Risk is not evenly split, since DECK carries 2.2 times the volatility of the other side.
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.
DECK vs XLY: side by side
| DECK (Deckers Brands) | XLY (Consumer Discretionary Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -26.0% | -0.1% |
| 5-year return | +22.8% | +31.8% |
| Volatility (ann.) | 43.6% | 19.7% |
| Beta vs S&P 500 | 1.20 | 1.15 |
| Max drawdown (3Y) | -64.3% | -26.0% |
| Market cap | $11.8B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | 0.78% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $22.5B |
| Sector / category | Consumer Discretionary | Sector ETF |
XLY is a Consumer Cyclical fund from State Street Investment Management: $22.5B under management, 47 holdings, a 0.08% expense ratio, a 0.78% trailing dividend yield.
Year-by-year returns
| Year | DECK | XLY |
|---|---|---|
| 2022 | +9.0% | -36.3% |
| 2023 | +67.5% | +39.6% |
| 2024 | +82.3% | +26.5% |
| 2025 | -49.0% | +7.4% |
| 2026 | -16.7% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLY holds DECK at a 0.32% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are DECK and XLY good diversifiers for each other?
Reasonably. At 0.40, DECK and XLY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DECK and XLY?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.38 over the last year and 0.43 over 5 years.
Is XLY a good diversifier for DECK?
Reasonably. At 0.40, DECK and XLY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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/deck-vs-xly.json
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Related comparisons
Hubs: DECK correlations · XLY correlations
