DPZ vs XLY: Correlation
How closely do Domino's (DPZ) and Consumer Discretionary Select Sector SPDR Fund (XLY) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DPZ and XLY?
Over the past 3 years, DPZ and XLY moved with a correlation of 0.35, which is moderate. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 192.2 %².
Among the 31 assets we track against DPZ, XLY ranks #20 by 3-year correlation. The last year tells two different stories: XLY led by 25.1 percentage points, -25.2% for DPZ against -0.1% for XLY. On a rolling one-year basis the correlation drifted between 0.25 and 0.58, a moderate band.
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.
DPZ vs XLY: side by side
| DPZ (Domino's) | XLY (Consumer Discretionary Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -25.2% | -0.1% |
| 5-year return | -31.2% | +31.8% |
| Volatility (ann.) | 27.8% | 19.7% |
| Beta vs S&P 500 | 0.67 | 1.15 |
| Max drawdown (3Y) | -45.1% | -26.0% |
| Market cap | $11.0B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 2.17% | 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 | DPZ | XLY |
|---|---|---|
| 2022 | -37.9% | -36.3% |
| 2023 | +20.7% | +39.6% |
| 2024 | +3.2% | +26.5% |
| 2025 | +0.9% | +7.4% |
| 2026 | -19.4% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
DPZ represents 0.26% of XLY's portfolio, so part of any move in XLY is DPZ itself, and the correlation between them is partly mechanical.
Are DPZ and XLY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DPZ and XLY?
As of 2026-08-27, the correlation of weekly returns between DPZ and XLY is 0.35 over 3 years, 0.26 over 1 year and 0.42 over 5 years.
Is XLY a good diversifier for DPZ?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DPZ correlations · XLY correlations
