GPC vs XLB: Correlation
How closely do Genuine Parts Company (GPC) and Materials Select Sector SPDR Fund (XLB) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPC and XLB?
Across a 3-year window, the weekly returns of GPC and XLB correlate at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 277.5 %².
Within GPC's tracked universe of 36 assets, XLB comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XLB ahead by 16.3 points (+1.3% versus +17.6%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.40 and 0.62. Note the risk asymmetry: GPC runs 1.9 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.
GPC vs XLB: side by side
| GPC (Genuine Parts Company) | XLB (Materials Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +1.3% | +17.6% |
| 5-year return | +27.6% | +36.9% |
| Volatility (ann.) | 31.9% | 16.7% |
| Beta vs S&P 500 | 0.66 | 0.72 |
| Max drawdown (3Y) | -39.7% | -23.2% |
| Market cap | $18.8B | – |
| P/E (trailing) | 546.8 | – |
| Dividend yield | 3.00% | 1.68% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.3B |
| Sector / category | Consumer Discretionary | 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 | GPC | XLB |
|---|---|---|
| 2022 | +26.8% | -12.3% |
| 2023 | -18.1% | +12.5% |
| 2024 | -13.2% | +0.1% |
| 2025 | +8.7% | +9.9% |
| 2026 | +13.4% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPC and XLB good diversifiers for each other?
To a limited degree. At 0.52 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 GPC and XLB?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.50 over the last year and 0.51 over 5 years.
Is XLB a good diversifier for GPC?
To a limited degree. At 0.52 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 0.52 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/gpc-vs-xlb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gpc-vs-xlb/)
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Related comparisons
Hubs: GPC correlations · XLB correlations
