GGG vs XLI: Correlation
How closely do Graco Inc. (GGG) and Industrial Select Sector SPDR Fund (XLI) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGG and XLI?
Across a 3-year window, the weekly returns of GGG and XLI correlate at 0.73, strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 217.6 %².
In GGG's tracked universe of 26 assets, XLI sits right near the top at #2. Correlation aside, the last 12 months split them widely, with XLI ahead by 25.5 points (-7.2% versus +18.3%).
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.
GGG vs XLI: side by side
| GGG (Graco Inc.) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -7.2% | +18.3% |
| 5-year return | +7.7% | +84.0% |
| Volatility (ann.) | 19.0% | 15.7% |
| Beta vs S&P 500 | 0.70 | 0.89 |
| Max drawdown (3Y) | -22.6% | -18.5% |
| Market cap | $12.9B | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 1.46% | 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 | GGG | XLI |
|---|---|---|
| 2022 | -15.5% | -5.6% |
| 2023 | +30.6% | +18.1% |
| 2024 | -1.7% | +17.3% |
| 2025 | -1.5% | +19.3% |
| 2026 | -1.8% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGG and XLI good diversifiers for each other?
To a limited degree. At 0.73 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 GGG and XLI?
As of 2026-08-27, the correlation of weekly returns between GGG and XLI is 0.73 over 3 years, 0.66 over 1 year and 0.75 over 5 years.
Is XLI a good diversifier for GGG?
To a limited degree. At 0.73 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 0.73 mean?
A reading of 0.73 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ggg-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ggg-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GGG correlations · XLI correlations
