DPG vs XLU: Correlation
Measured on weekly returns over the past three years, Duff & Phelps Utility and Infrastructure Fund Inc. (DPG) and Utilities Select Sector SPDR Fund (XLU) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DPG and XLU?
Across a 3-year window, the weekly returns of DPG and XLU correlate at 0.78, strong. Recent behaviour matches the longer record: 0.83 over 1 year against 0.78 over 3. Stretching to 5 years gives 0.66, with an annualized covariance of 218.9 %².
Few assets follow DPG as closely as XLU, which ranks #3 of 30 tracked partners. The last year tells two different stories: DPG led by 17.2 percentage points, +21.3% for DPG against +4.1% for XLU.
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.
DPG vs XLU: side by side
| DPG (Duff & Phelps Utility and Infrastructure Fund Inc.) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +21.3% | +4.1% |
| 5-year return | +54.4% | +46.3% |
| Volatility (ann.) | 17.8% | 15.8% |
| Beta vs S&P 500 | 0.36 | 0.26 |
| Max drawdown (3Y) | -14.2% | -13.1% |
| Market cap | $0.5B | – |
| P/E (trailing) | 3.4 | – |
| Dividend yield | 0.00% | 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 | DPG | XLU |
|---|---|---|
| 2022 | +3.1% | +1.4% |
| 2023 | -25.1% | -7.2% |
| 2024 | +38.2% | +23.3% |
| 2025 | +16.3% | +16.0% |
| 2026 | +19.5% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DPG and XLU good diversifiers for each other?
To a limited degree. At 0.78 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 DPG and XLU?
As of 2026-08-27, the correlation of weekly returns between DPG and XLU is 0.78 over 3 years, 0.83 over 1 year and 0.66 over 5 years.
Is XLU a good diversifier for DPG?
To a limited degree. At 0.78 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 0.78 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/dpg-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dpg-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DPG correlations · XLU correlations
