EQT vs XLE: Correlation
How closely do EQT Corporation (EQT) and Energy Select Sector SPDR Fund (XLE) 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 EQT and XLE?
Across a 3-year window, the weekly returns of EQT and XLE correlate at 0.47, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.47 over 3. Stretching to 5 years gives 0.57, with an annualized covariance of 368.4 %².
Among the 31 assets we track against EQT, XLE ranks #16 by 3-year correlation. The last year tells two different stories: XLE led by 36.1 percentage points, +7.9% for EQT against +44.0% for XLE. The rolling one-year correlation moved between 0.33 and 0.68 over the past three years, a moderate range.
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.
EQT vs XLE: side by side
| EQT (EQT Corporation) | XLE (Energy Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +7.9% | +44.0% |
| 5-year return | +224.8% | +206.7% |
| Volatility (ann.) | 34.1% | 23.1% |
| Beta vs S&P 500 | 0.52 | 0.27 |
| Max drawdown (3Y) | -31.6% | -20.1% |
| Market cap | $34.3B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 1.19% | 2.55% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $39.2B |
| Sector / category | Energy | Sector ETF |
XLE is an Equity Energy fund from State Street Investment Management: $39.2B under management, 22 holdings, a 0.08% expense ratio, a 2.55% trailing dividend yield.
Year-by-year returns
| Year | EQT | XLE |
|---|---|---|
| 2022 | +57.6% | +64.3% |
| 2023 | +16.2% | -0.6% |
| 2024 | +21.4% | +5.6% |
| 2025 | +17.6% | +7.9% |
| 2026 | +3.1% | +41.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 2.03% of XLE is EQT itself, so the fund partly moves with the stock by construction.
Are EQT and XLE good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EQT and XLE?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.51 over the last year and 0.57 over 5 years.
Is XLE a good diversifier for EQT?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
A reading of 0.47 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/eqt-vs-xle.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eqt-vs-xle/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EQT correlations · XLE correlations
