FUND vs XLB: Correlation
Sprott Focus Trust, Inc. - Closed End Fund (FUND) and Materials Select Sector SPDR Fund (XLB) show a strong relationship: their 3-year correlation of weekly returns is 0.77.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUND and XLB?
Across a 3-year window, the weekly returns of FUND and XLB correlate at 0.77, strong. Lately the two have drifted apart, with the 1-year correlation at 0.65 versus 0.77 over 3 years. Stretching to 5 years gives 0.81, with an annualized covariance of 229.6 %².
Within FUND's tracked universe of 32 assets, XLB comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FUND ahead by 21.5 points (+39.1% versus +17.6%).
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.
FUND vs XLB: side by side
| FUND (Sprott Focus Trust, Inc. - Closed End Fund) | XLB (Materials Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +39.1% | +17.6% |
| 5-year return | +83.0% | +36.9% |
| Volatility (ann.) | 17.9% | 16.7% |
| Beta vs S&P 500 | 0.77 | 0.72 |
| Max drawdown (3Y) | -18.2% | -23.2% |
| Market cap | $0.3B | – |
| P/E (trailing) | 5.8 | – |
| Dividend yield | 5.36% | 1.68% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.3B |
| Sector / category | US Listed | Sector ETF |
XLB is a Natural Resources fund from State Street Investment Management: $8.3B under management, 26 holdings, a 0.08% expense ratio, a 1.68% trailing dividend yield.
Year-by-year returns
| Year | FUND | XLB |
|---|---|---|
| 2022 | -1.2% | -12.3% |
| 2023 | +6.9% | +12.5% |
| 2024 | -1.0% | +0.1% |
| 2025 | +27.5% | +9.9% |
| 2026 | +26.8% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUND and XLB good diversifiers for each other?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FUND and XLB?
As of 2026-08-27, the correlation of weekly returns between FUND and XLB is 0.77 over 3 years, 0.65 over 1 year and 0.81 over 5 years.
Is XLB a good diversifier for FUND?
To a limited degree. At 0.77 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.77 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fund-vs-xlb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fund-vs-xlb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FUND correlations · XLB correlations
