HII vs XLI: Correlation
Measured on weekly returns over the past three years, Huntington Ingalls Industries (HII) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HII and XLI?
Over the past 3 years, HII and XLI moved with a correlation of 0.45, which is moderate. The link has loosened recently: the 1-year correlation (0.32) runs below the 3-year figure (0.45). Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 249.6 %².
By 3-year correlation, XLI places #6 of the 28 assets tracked against HII. Over the last 12 months XLI came out ahead by 8.9 percentage points (+9.4% against +18.3%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.26 to 0.76. Risk is not evenly split, since HII carries 2.2 times the volatility of the other side.
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.
HII vs XLI: side by side
| HII (Huntington Ingalls Industries) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +9.4% | +18.3% |
| 5-year return | +59.2% | +84.0% |
| Volatility (ann.) | 35.3% | 15.7% |
| Beta vs S&P 500 | 0.84 | 0.89 |
| Max drawdown (3Y) | -45.2% | -18.5% |
| Market cap | $11.7B | – |
| P/E (trailing) | 17.7 | – |
| Dividend yield | 1.85% | 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 | HII | XLI |
|---|---|---|
| 2022 | +26.3% | -5.6% |
| 2023 | +15.2% | +18.1% |
| 2024 | -25.7% | +17.3% |
| 2025 | +84.2% | +19.3% |
| 2026 | -11.9% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
HII represents 0.21% of XLI's portfolio, so part of any move in XLI is HII itself, and the correlation between them is partly mechanical.
Are HII and XLI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HII and XLI?
As of 2026-08-27, the correlation of weekly returns between HII and XLI is 0.45 over 3 years, 0.32 over 1 year and 0.46 over 5 years.
Is XLI a good diversifier for HII?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hii-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hii-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HII correlations · XLI correlations
