HURC vs XLI: Correlation
How closely do Hurco Companies, Inc. (HURC) and Industrial Select Sector SPDR Fund (XLI) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HURC and XLI?
Across a 3-year window, the weekly returns of HURC and XLI correlate at 0.42, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.42 over 3. Stretching to 5 years gives 0.36, with an annualized covariance of 263.9 %².
Within HURC's tracked universe of 10 assets, XLI comes in at #5 by 3-year correlation. Over the last 12 months HURC came out ahead by 7.1 percentage points (+25.4% against +18.3%). One caveat on sizing: HURC is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HURC vs XLI: side by side
| HURC (Hurco Companies, Inc.) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +25.4% | +18.3% |
| 5-year return | -28.0% | +84.0% |
| Volatility (ann.) | 39.5% | 15.7% |
| Beta vs S&P 500 | 0.89 | 0.89 |
| Max drawdown (3Y) | -52.0% | -18.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | HURC | XLI |
|---|---|---|
| 2022 | -10.0% | -5.6% |
| 2023 | -15.2% | +18.1% |
| 2024 | -9.7% | +17.3% |
| 2025 | -19.9% | +19.3% |
| 2026 | +45.8% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HURC and XLI good diversifiers for each other?
Reasonably. At 0.42, HURC and XLI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HURC and XLI?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.44 over the last year and 0.36 over 5 years.
Is XLI a good diversifier for HURC?
Reasonably. At 0.42, HURC and XLI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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/hurc-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hurc-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HURC correlations · XLI correlations
