GE vs XLI: Correlation
Measured on weekly returns over the past three years, GE Aerospace (GE) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GE and XLI?
On 3 years of weekly data the GE/XLI correlation comes out at 0.71, strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.71 over 3. The 5-year figure is 0.70, and annualized covariance runs at 345.2 %².
In GE's tracked universe of 32 assets, XLI sits right near the top at #1. On 12-month performance GE holds a 7.7-point edge, +26.0% against +18.3%. The rolling one-year correlation moved between 0.49 and 0.85 over the past three years, a moderate range. One caveat on sizing: GE is 2.0 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.
GE vs XLI: side by side
| GE (GE Aerospace) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +26.0% | +18.3% |
| 5-year return | +435.6% | +84.0% |
| Volatility (ann.) | 30.9% | 15.7% |
| Beta vs S&P 500 | 1.24 | 0.89 |
| Max drawdown (3Y) | -21.4% | -18.5% |
| Market cap | $355.6B | – |
| P/E (trailing) | 41.8 | – |
| Dividend yield | 0.47% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Industrials | 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 | GE | XLI |
|---|---|---|
| 2022 | -10.9% | -5.6% |
| 2023 | +95.7% | +18.1% |
| 2024 | +64.8% | +17.3% |
| 2025 | +85.7% | +19.3% |
| 2026 | +11.6% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 6.52% of XLI is GE itself, so the fund partly moves with the stock by construction.
Are GE and XLI good diversifiers for each other?
To a limited degree. At 0.71 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 GE and XLI?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.67 over the last year and 0.70 over 5 years.
Is XLI a good diversifier for GE?
To a limited degree. At 0.71 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 0.71 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/ge-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ge-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GE correlations · XLI correlations
