ENGN vs XLC: Correlation
Measured on weekly returns over the past three years, enGene Therapeutics Inc. (ENGN) and Communication Services Select Sector SPDR Fund (XLC) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENGN and XLC?
Across a 3-year window, the weekly returns of ENGN and XLC correlate at -0.15, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.17) than the 3-year average (-0.15). Stretching to 5 years gives -0.10, with an annualized covariance of -381.0 %².
By 3-year correlation, XLC places #9 of the 35 assets tracked against ENGN. Correlation aside, the last 12 months split them widely, with XLC ahead by 57.5 points (-56.0% versus +1.5%). One caveat on sizing: ENGN is 9.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ENGN vs XLC: side by side
| ENGN (enGene Therapeutics Inc.) | XLC (Communication Services Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -56.0% | +1.5% |
| 5-year return | -80.6% | +37.5% |
| Volatility (ann.) | 156.3% | 16.0% |
| Beta vs S&P 500 | -0.97 | 0.90 |
| Max drawdown (3Y) | -94.9% | -18.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.32% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $21.7B |
| Sector / category | US Listed | 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 | ENGN | XLC |
|---|---|---|
| 2022 | – | -37.6% |
| 2023 | -10.6% | +52.8% |
| 2024 | -28.0% | +34.7% |
| 2025 | +35.8% | +23.1% |
| 2026 | -78.8% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENGN and XLC good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ENGN and XLC?
The ENGN/XLC correlation stands at -0.15 on a 3-year window (1 year: 0.17, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is XLC a good diversifier for ENGN?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 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/engn-vs-xlc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/engn-vs-xlc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ENGN correlations · XLC correlations
