FLUT vs XLF: Correlation
Measured on weekly returns over the past three years, Flutter Entertainment plc (FLUT) and Financial Select Sector SPDR Fund (XLF) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLUT and XLF?
On 3 years of weekly data the FLUT/XLF correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.52 over 3. The 5-year figure is 0.48, and annualized covariance runs at 352.4 %².
In FLUT's tracked universe of 14 assets, XLF sits right near the top at #2. The last year tells two different stories: XLF led by 78.2 percentage points, -68.9% for FLUT against +9.3% for XLF. One caveat on sizing: FLUT is 2.6 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.
FLUT vs XLF: side by side
| FLUT (Flutter Entertainment plc) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -68.9% | +9.3% |
| 5-year return | -51.0% | +64.2% |
| Volatility (ann.) | 41.7% | 16.2% |
| Beta vs S&P 500 | 1.16 | 0.84 |
| Max drawdown (3Y) | -70.1% | -15.5% |
| Market cap | $16.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | US Listed | 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 | FLUT | XLF |
|---|---|---|
| 2022 | -14.4% | -10.6% |
| 2023 | +32.8% | +12.0% |
| 2024 | +44.4% | +30.6% |
| 2025 | -16.8% | +14.9% |
| 2026 | -55.8% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLUT and XLF good diversifiers for each other?
Only partially. A correlation of 0.52 means FLUT and XLF 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 FLUT and XLF?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.54 over the last year and 0.48 over 5 years.
Is XLF a good diversifier for FLUT?
Only partially. A correlation of 0.52 means FLUT and XLF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: FLUT correlations · XLF correlations
