EQIX vs XLU: Correlation
How closely do Equinix (EQIX) and Utilities Select Sector SPDR Fund (XLU) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQIX and XLU?
Across a 3-year window, the weekly returns of EQIX and XLU correlate at 0.47, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.47 over 3. Stretching to 5 years gives 0.53, with an annualized covariance of 181.9 %².
Among the 30 assets we track against EQIX, XLU ranks #9 by 3-year correlation. The last year tells two different stories: EQIX led by 35.0 percentage points, +39.1% for EQIX against +4.1% for XLU. Across three years, the rolling one-year figure varied moderately, from 0.22 to 0.65. Risk is not evenly split, since EQIX carries 1.5 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.
EQIX vs XLU: side by side
| EQIX (Equinix) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +39.1% | +4.1% |
| 5-year return | +41.6% | +46.3% |
| Volatility (ann.) | 24.4% | 15.8% |
| Beta vs S&P 500 | 0.63 | 0.26 |
| Max drawdown (3Y) | -24.6% | -13.1% |
| Market cap | $106.2B | – |
| P/E (trailing) | 69.4 | – |
| Dividend yield | 1.82% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | Real Estate | 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 | EQIX | XLU |
|---|---|---|
| 2022 | -21.1% | +1.4% |
| 2023 | +25.4% | -7.2% |
| 2024 | +19.5% | +23.3% |
| 2025 | -16.9% | +16.0% |
| 2026 | +42.6% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQIX and XLU good diversifiers for each other?
Reasonably. At 0.47, EQIX and XLU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EQIX and XLU?
As of 2026-08-27, the correlation of weekly returns between EQIX and XLU is 0.47 over 3 years, 0.52 over 1 year and 0.53 over 5 years.
Is XLU a good diversifier for EQIX?
Reasonably. At 0.47, EQIX and XLU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 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/eqix-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqix-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EQIX correlations · XLU correlations
