EMA vs XLU: Correlation
Emera Incorporated (EMA) and Utilities Select Sector SPDR Fund (XLU) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMA and XLU?
Across a 3-year window, the weekly returns of EMA and XLU correlate at 0.60, strong. Lately the two have moved closer together, with the 1-year correlation at 0.72 versus 0.60 over 3 years. Stretching to 5 years gives 0.68, with an annualized covariance of 165.5 %².
Within EMA's tracked universe of 11 assets, XLU comes in at #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +7.5% for EMA and +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.
EMA vs XLU: side by side
| EMA (Emera Incorporated) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +7.5% | +4.1% |
| 5-year return | +34.4% | +46.3% |
| Volatility (ann.) | 17.4% | 15.8% |
| Beta vs S&P 500 | 0.10 | 0.26 |
| Max drawdown (3Y) | -19.6% | -13.1% |
| Market cap | $15.4B | – |
| P/E (trailing) | 22.2 | – |
| Dividend yield | 5.77% | 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 | EMA | XLU |
|---|---|---|
| 2022 | -19.3% | +1.4% |
| 2023 | +3.5% | -7.2% |
| 2024 | +6.3% | +23.3% |
| 2025 | +36.6% | +16.0% |
| 2026 | +3.6% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMA and XLU good diversifiers for each other?
Only partially. A correlation of 0.60 means EMA and XLU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EMA and XLU?
As of 2026-08-27, the correlation of weekly returns between EMA and XLU is 0.60 over 3 years, 0.72 over 1 year and 0.68 over 5 years.
Is XLU a good diversifier for EMA?
Only partially. A correlation of 0.60 means EMA and XLU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ema-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ema-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EMA correlations · XLU correlations
