GDV vs XLI: Correlation
Measured on weekly returns over the past three years, Gabelli Dividend & Income Trust (GDV) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDV and XLI?
On 3 years of weekly data the GDV/XLI correlation comes out at 0.85, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.71) runs below the 3-year figure (0.85). The 5-year figure is 0.88, and annualized covariance runs at 201.5 %².
Among the 71 assets we track against GDV, XLI ranks #14 by 3-year correlation. Their 12-month results are close: +20.3% for GDV against +18.3% for XLI.
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.
GDV vs XLI: side by side
| GDV (Gabelli Dividend & Income Trust) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +20.3% | +18.3% |
| 5-year return | +53.8% | +84.0% |
| Volatility (ann.) | 15.0% | 15.7% |
| Beta vs S&P 500 | 0.90 | 0.89 |
| Max drawdown (3Y) | -16.1% | -18.5% |
| Market cap | $2.7B | – |
| P/E (trailing) | 6.3 | – |
| Dividend yield | 5.51% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | US Listed | Sector ETF |
XLI is an Industrials fund from State Street Investment Management: $32.9B under management, 83 holdings, a 0.08% expense ratio, a 1.15% trailing dividend yield.
Year-by-year returns
| Year | GDV | XLI |
|---|---|---|
| 2022 | -18.6% | -5.6% |
| 2023 | +11.9% | +18.1% |
| 2024 | +18.1% | +17.3% |
| 2025 | +22.8% | +19.3% |
| 2026 | +13.8% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDV and XLI good diversifiers for each other?
No. With a correlation of 0.85, GDV and XLI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between GDV and XLI?
Using weekly returns as of 2026-08-27: 0.85 over 3 years, with 0.71 over the last year and 0.88 over 5 years.
Is XLI a good diversifier for GDV?
No. With a correlation of 0.85, GDV and XLI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 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/gdv-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gdv-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GDV correlations · XLI correlations
