EVRG vs XLU: Correlation
How closely do Evergy (EVRG) and Utilities Select Sector SPDR Fund (XLU) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVRG and XLU?
Over the past 3 years, EVRG and XLU moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.87 lands near the 3-year figure. Over 5 years the correlation is 0.85, and the annualized covariance of weekly returns is 231.3 %².
XLU is one of the assets that tracks EVRG most closely: it ranks #2 out of the 44 assets we track against EVRG. The trailing year gives EVRG the advantage: +16.9% versus +4.1%, a 12.8-point spread. The link looks structural: the rolling one-year correlation barely moved, holding between 0.66 and 0.90.
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.
EVRG vs XLU: side by side
| EVRG (Evergy) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +16.9% | +4.1% |
| 5-year return | +46.3% | +46.3% |
| Volatility (ann.) | 17.9% | 15.8% |
| Beta vs S&P 500 | 0.13 | 0.26 |
| Max drawdown (3Y) | -15.8% | -13.1% |
| Market cap | $18.8B | – |
| P/E (trailing) | 20.9 | – |
| Dividend yield | 3.35% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | Utilities | 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 | EVRG | XLU |
|---|---|---|
| 2022 | -4.9% | +1.4% |
| 2023 | -13.3% | -7.2% |
| 2024 | +23.4% | +23.3% |
| 2025 | +22.4% | +16.0% |
| 2026 | +15.2% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.4% of XLU is EVRG itself, so the fund partly moves with the stock by construction.
Are EVRG and XLU good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between EVRG and XLU?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.87 over the last year and 0.85 over 5 years.
Is XLU a good diversifier for EVRG?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 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/evrg-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evrg-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVRG correlations · XLU correlations
