FEMY vs XLU: Correlation
Measured on weekly returns over the past three years, Femasys Inc. (FEMY) and Utilities Select Sector SPDR Fund (XLU) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FEMY and XLU?
Across a 3-year window, the weekly returns of FEMY and XLU correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.18) runs above the 3-year figure (-0.22). Stretching to 5 years gives -0.15, with an annualized covariance of -1792.1 %².
Among the 32 assets we track against FEMY, XLU ranks #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XLU outperformed by 65.3 percentage points (-61.2% for FEMY against +4.1% for XLU). Note the risk asymmetry: FEMY runs 32.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FEMY vs XLU: side by side
| FEMY (Femasys Inc.) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -61.2% | +4.1% |
| 5-year return | -98.0% | +46.3% |
| Volatility (ann.) | 509.3% | 15.8% |
| Beta vs S&P 500 | -0.49 | 0.26 |
| Max drawdown (3Y) | -97.2% | -13.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | US Listed | 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 | FEMY | XLU |
|---|---|---|
| 2022 | -76.9% | +1.4% |
| 2023 | +8.3% | -7.2% |
| 2024 | +12.8% | +23.3% |
| 2025 | -47.6% | +16.0% |
| 2026 | -75.8% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FEMY and XLU good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FEMY and XLU?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with 0.18 over the last year and -0.15 over 5 years.
Is XLU a good diversifier for FEMY?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/femy-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/femy-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FEMY correlations · XLU correlations
