FIS vs XLF: Correlation
Fidelity National Information Services (FIS) and Financial Select Sector SPDR Fund (XLF) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIS and XLF?
Across a 3-year window, the weekly returns of FIS and XLF correlate at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Stretching to 5 years gives 0.53, with an annualized covariance of 210.3 %².
Within FIS's tracked universe of 33 assets, XLF comes in at #11 by 3-year correlation. The last year tells two different stories: XLF led by 49.3 percentage points, -40.0% for FIS against +9.3% for XLF. The rolling one-year correlation moved between 0.34 and 0.78 over the past three years, a moderate range. Note the risk asymmetry: FIS runs 1.7 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.
FIS vs XLF: side by side
| FIS (Fidelity National Information Services) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -40.0% | +9.3% |
| 5-year return | -63.9% | +64.2% |
| Volatility (ann.) | 27.2% | 16.2% |
| Beta vs S&P 500 | 0.57 | 0.84 |
| Max drawdown (3Y) | -56.5% | -15.5% |
| Market cap | $20.9B | – |
| P/E (trailing) | 6.2 | – |
| Dividend yield | 4.13% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | Financials | Sector ETF |
XLF is a Financial fund from State Street Investment Management: $57.9B under management, 77 holdings, a 0.08% expense ratio, a 1.42% trailing dividend yield.
Year-by-year returns
| Year | FIS | XLF |
|---|---|---|
| 2022 | -36.5% | -10.6% |
| 2023 | -8.2% | +12.0% |
| 2024 | +37.0% | +30.6% |
| 2025 | -15.8% | +14.9% |
| 2026 | -37.8% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLF holds FIS at a 0.26% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are FIS and XLF good diversifiers for each other?
Reasonably. At 0.48, FIS and XLF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FIS and XLF?
The FIS/XLF correlation stands at 0.48 on a 3-year window (1 year: 0.48, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is XLF a good diversifier for FIS?
Reasonably. At 0.48, FIS and XLF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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.
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Related comparisons
Hubs: FIS correlations · XLF correlations
