FOXA vs XLC: Correlation
Fox Corporation (Class A) (FOXA) and Communication Services Select Sector SPDR Fund (XLC) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOXA and XLC?
Over the past 3 years, FOXA and XLC moved with a correlation of 0.43, which is moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 201.8 %².
Among the 33 assets we track against FOXA, XLC ranks #16 by 3-year correlation. Over the last 12 months FOXA came out ahead by 12.5 percentage points (+14.0% against +1.5%). Across three years, the rolling one-year figure varied moderately, from 0.09 to 0.58. Note the risk asymmetry: FOXA runs 1.8 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.
FOXA vs XLC: side by side
| FOXA (Fox Corporation (Class A)) | XLC (Communication Services Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +14.0% | +1.5% |
| 5-year return | +93.4% | +37.5% |
| Volatility (ann.) | 29.3% | 16.0% |
| Beta vs S&P 500 | 0.56 | 0.90 |
| Max drawdown (3Y) | -35.6% | -18.0% |
| Market cap | $28.3B | – |
| P/E (trailing) | 18.1 | – |
| Dividend yield | 0.80% | 1.32% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $21.7B |
| Sector / category | Communication Services | Sector ETF |
On the fund side, XLC sits in the Communications category at State Street Investment Management, with $21.7B under management, 24 holdings, a 0.08% expense ratio, a 1.32% trailing dividend yield.
Year-by-year returns
| Year | FOXA | XLC |
|---|---|---|
| 2022 | -16.6% | -37.6% |
| 2023 | -0.8% | +52.8% |
| 2024 | +66.3% | +34.7% |
| 2025 | +51.8% | +23.1% |
| 2026 | -7.6% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 2.5% of XLC is FOXA itself, so the fund partly moves with the stock by construction.
Are FOXA and XLC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FOXA and XLC?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.42 over the last year and 0.40 over 5 years.
Is XLC a good diversifier for FOXA?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/foxa-vs-xlc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/foxa-vs-xlc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FOXA correlations · XLC correlations
