EXC vs XLU: Correlation
How closely do Exelon (EXC) and Utilities Select Sector SPDR Fund (XLU) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXC and XLU?
Over the past 3 years, EXC and XLU moved with a correlation of 0.74, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.90 versus 0.74 over 3 years. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 226.3 %².
By 3-year correlation, XLU places #11 of the 41 assets tracked against EXC. Twelve-month performance is nearly a tie, at +1.7% for EXC and +4.1% for XLU. On a rolling one-year basis the correlation drifted between 0.54 and 0.90, a moderate band.
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.
EXC vs XLU: side by side
| EXC (Exelon) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +1.7% | +4.1% |
| 5-year return | +48.1% | +46.3% |
| Volatility (ann.) | 19.4% | 15.8% |
| Beta vs S&P 500 | -0.05 | 0.26 |
| Max drawdown (3Y) | -18.9% | -13.1% |
| Market cap | $45.3B | – |
| P/E (trailing) | 16.3 | – |
| Dividend yield | 3.69% | 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 | EXC | XLU |
|---|---|---|
| 2022 | +8.3% | +1.4% |
| 2023 | -14.0% | -7.2% |
| 2024 | +9.2% | +23.3% |
| 2025 | +20.0% | +16.0% |
| 2026 | +2.7% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLU holds EXC at a 3.35% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are EXC and XLU good diversifiers for each other?
Only partially. A correlation of 0.74 means EXC 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 EXC and XLU?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.90 over the last year and 0.80 over 5 years.
Is XLU a good diversifier for EXC?
Only partially. A correlation of 0.74 means EXC 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 0.74 mean?
On the −1 to +1 scale, 0.74 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/exc-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exc-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXC correlations · XLU correlations
