GLW vs XLK: Correlation
Corning Inc. (GLW) and Technology Select Sector SPDR Fund (XLK) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLW and XLK?
On 3 years of weekly data the GLW/XLK correlation comes out at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 403.2 %².
By 3-year correlation, XLK places #19 of the 37 assets tracked against GLW. Their recent paths diverged sharply: over the last 12 months GLW outperformed by 86.3 percentage points (+129.7% for GLW against +43.4% for XLK). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.11 to 0.77. Note the risk asymmetry: GLW 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.
GLW vs XLK: side by side
| GLW (Corning Inc.) | XLK (Technology Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +129.7% | +43.4% |
| 5-year return | +331.4% | +145.2% |
| Volatility (ann.) | 42.1% | 24.0% |
| Beta vs S&P 500 | 1.15 | 1.50 |
| Max drawdown (3Y) | -51.5% | -25.7% |
| Market cap | $131.6B | – |
| P/E (trailing) | 70.4 | – |
| Dividend yield | 0.73% | 0.45% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $115.4B |
| Sector / category | Information Technology | Sector ETF |
On the fund side, XLK sits in the Technology category at State Street Investment Management, with $115.4B under management, 73 holdings, a 0.08% expense ratio, a 0.45% trailing dividend yield.
Year-by-year returns
| Year | GLW | XLK |
|---|---|---|
| 2022 | -11.6% | -27.7% |
| 2023 | -1.2% | +56.0% |
| 2024 | +60.6% | +21.6% |
| 2025 | +87.8% | +24.6% |
| 2026 | +75.1% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLK holds GLW at a 0.8% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are GLW and XLK good diversifiers for each other?
Reasonably. At 0.40, GLW and XLK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GLW and XLK?
As of 2026-08-27, the correlation of weekly returns between GLW and XLK is 0.40 over 3 years, 0.31 over 1 year and 0.45 over 5 years.
Is XLK a good diversifier for GLW?
Reasonably. At 0.40, GLW and XLK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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/glw-vs-xlk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/glw-vs-xlk/)
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Related comparisons
Hubs: GLW correlations · XLK correlations
