DNP vs XLU: Correlation
How closely do DNP Select Income Fund, Inc. (DNP) and Utilities Select Sector SPDR Fund (XLU) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNP and XLU?
Over the past 3 years, DNP and XLU moved with a correlation of 0.61, which is strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 128.2 %².
Among the 10 assets we track against DNP, XLU ranks #4 by 3-year correlation. The trailing year gives DNP the advantage: +18.8% versus +4.1%, a 14.7-point spread.
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.
DNP vs XLU: side by side
| DNP (DNP Select Income Fund, Inc.) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +18.8% | +4.1% |
| 5-year return | +47.1% | +46.3% |
| Volatility (ann.) | 13.3% | 15.8% |
| Beta vs S&P 500 | 0.28 | 0.26 |
| Max drawdown (3Y) | -16.2% | -13.1% |
| Market cap | $4.1B | – |
| P/E (trailing) | 5.9 | – |
| Dividend yield | 7.08% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | US Listed | 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 | DNP | XLU |
|---|---|---|
| 2022 | +11.0% | +1.4% |
| 2023 | -18.6% | -7.2% |
| 2024 | +13.4% | +23.3% |
| 2025 | +22.6% | +16.0% |
| 2026 | +14.1% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNP and XLU good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DNP and XLU?
The DNP/XLU correlation stands at 0.61 on a 3-year window (1 year: 0.71, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is XLU a good diversifier for DNP?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 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/dnp-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dnp-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DNP correlations · XLU correlations
