EXPD vs XLI: Correlation
Expeditors International (EXPD) and Industrial Select Sector SPDR Fund (XLI) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXPD and XLI?
Over the past 3 years, EXPD and XLI moved with a correlation of 0.35, which is moderate. The past 12 months show a weaker link (0.15) than the 3-year average (0.35). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 133.4 %².
Among the 33 assets we track against EXPD, XLI ranks #22 by 3-year correlation. The last year tells two different stories: EXPD led by 39.2 percentage points, +57.5% for EXPD against +18.3% for XLI. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.15 to 0.72. Risk is not evenly split, since EXPD 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.
EXPD vs XLI: side by side
| EXPD (Expeditors International) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +57.5% | +18.3% |
| 5-year return | +60.9% | +84.0% |
| Volatility (ann.) | 24.2% | 15.7% |
| Beta vs S&P 500 | 0.65 | 0.89 |
| Max drawdown (3Y) | -21.3% | -18.5% |
| Market cap | $24.8B | – |
| P/E (trailing) | 27.7 | – |
| Dividend yield | 0.83% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Industrials | Sector ETF |
XLI is an Industrials fund from State Street Investment Management: $32.9B under management, 83 holdings, a 0.08% expense ratio, a 1.15% trailing dividend yield.
Year-by-year returns
| Year | EXPD | XLI |
|---|---|---|
| 2022 | -21.7% | -5.6% |
| 2023 | +23.9% | +18.1% |
| 2024 | -11.9% | +17.3% |
| 2025 | +36.2% | +19.3% |
| 2026 | +28.7% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.44% of XLI is EXPD itself, so the fund partly moves with the stock by construction.
Are EXPD and XLI good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EXPD and XLI?
As of 2026-08-27, the correlation of weekly returns between EXPD and XLI is 0.35 over 3 years, 0.15 over 1 year and 0.52 over 5 years.
Is XLI a good diversifier for EXPD?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 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/expd-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/expd-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EXPD correlations · XLI correlations
