ECHO vs XLC: Correlation
EchoStar (ECHO) and Communication Services Select Sector SPDR Fund (XLC) show a weak relationship: their 3-year correlation of weekly returns is 0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECHO and XLC?
Across a 3-year window, the weekly returns of ECHO and XLC correlate at 0.16, weak. The past 12 months show a tighter link (0.32) than the 3-year average (0.16). Stretching to 5 years gives 0.18, with an annualized covariance of 233.6 %².
Within ECHO's tracked universe of 35 assets, XLC comes in at #24 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ECHO ahead by 45.7 points (+47.2% versus +1.5%). On a rolling one-year basis the correlation drifted between -0.11 and 0.28, a moderate band. Risk is not evenly split, since ECHO carries 5.7 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.
ECHO vs XLC: side by side
| ECHO (EchoStar) | XLC (Communication Services Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +47.2% | +1.5% |
| 5-year return | +227.3% | +37.5% |
| Volatility (ann.) | 91.1% | 16.0% |
| Beta vs S&P 500 | 1.17 | 0.90 |
| Max drawdown (3Y) | -50.1% | -18.0% |
| Market cap | $25.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.32% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $21.7B |
| Sector / category | Communication Services | Sector ETF |
On the fund side, XLC sits in the Communications category at State Street Investment Management, with $21.7B under management, 24 holdings, a 0.08% expense ratio, a 1.32% trailing dividend yield.
Year-by-year returns
| Year | ECHO | XLC |
|---|---|---|
| 2022 | -36.7% | -37.6% |
| 2023 | -0.7% | +52.8% |
| 2024 | +38.2% | +34.7% |
| 2025 | +374.7% | +23.1% |
| 2026 | -20.5% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
ECHO represents 2.1% of XLC's portfolio, so part of any move in XLC is ECHO itself, and the correlation between them is partly mechanical.
Are ECHO and XLC good diversifiers for each other?
Yes: at 0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ECHO and XLC?
Using weekly returns as of 2026-08-27: 0.16 over 3 years, with 0.32 over the last year and 0.18 over 5 years.
Is XLC a good diversifier for ECHO?
Yes: at 0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of 0.16 mean?
A reading of 0.16 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/echo-vs-xlc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/echo-vs-xlc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ECHO correlations · XLC correlations
