FISV vs XLF: Correlation
How closely do Fiserv (FISV) and Financial Select Sector SPDR Fund (XLF) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FISV and XLF?
On 3 years of weekly data the FISV/XLF correlation comes out at 0.40, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.40 over 3. The 5-year figure is 0.46, and annualized covariance runs at 252.3 %².
Among the 39 assets we track against FISV, XLF ranks #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XLF outperformed by 71.2 percentage points (-61.9% for FISV against +9.3% for XLF). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.25 to 0.79. One caveat on sizing: FISV is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FISV vs XLF: side by side
| FISV (Fiserv) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -61.9% | +9.3% |
| 5-year return | -55.0% | +64.2% |
| Volatility (ann.) | 39.2% | 16.2% |
| Beta vs S&P 500 | 0.58 | 0.84 |
| Max drawdown (3Y) | -80.2% | -15.5% |
| Market cap | $28.0B | – |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 0.00% | 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 | FISV | XLF |
|---|---|---|
| 2022 | -2.6% | -10.6% |
| 2023 | +31.4% | +12.0% |
| 2024 | +54.6% | +30.6% |
| 2025 | -67.3% | +14.9% |
| 2026 | -21.7% | +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 FISV at a 0.34% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are FISV and XLF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FISV and XLF?
The FISV/XLF correlation stands at 0.40 on a 3-year window (1 year: 0.39, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is XLF a good diversifier for FISV?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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: FISV correlations · XLF correlations
