HUN vs XLB: Correlation
How closely do Huntsman Corporation (HUN) and Materials Select Sector SPDR Fund (XLB) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUN and XLB?
On 3 years of weekly data the HUN/XLB correlation comes out at 0.63, strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.63 over 3. The 5-year figure is 0.57, and annualized covariance runs at 494.2 %².
Within HUN's tracked universe of 14 assets, XLB comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XLB outperformed by 25.8 percentage points (-8.2% for HUN against +17.6% for XLB). Note the risk asymmetry: HUN runs 2.8 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.
HUN vs XLB: side by side
| HUN (Huntsman Corporation) | XLB (Materials Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -8.2% | +17.6% |
| 5-year return | -55.1% | +36.9% |
| Volatility (ann.) | 47.1% | 16.7% |
| Beta vs S&P 500 | 0.93 | 0.72 |
| Max drawdown (3Y) | -70.1% | -23.2% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 5.33% | 1.68% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.3B |
| Sector / category | US Listed | 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 | HUN | XLB |
|---|---|---|
| 2022 | -19.0% | -12.3% |
| 2023 | -5.1% | +12.5% |
| 2024 | -25.0% | +0.1% |
| 2025 | -40.6% | +9.9% |
| 2026 | -2.3% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUN and XLB good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HUN and XLB?
The HUN/XLB correlation stands at 0.63 on a 3-year window (1 year: 0.68, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is XLB a good diversifier for HUN?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/hun-vs-xlb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hun-vs-xlb/)
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Related comparisons
Hubs: HUN correlations · XLB correlations
