LDOS vs XLI: Correlation
Leidos (LDOS) and Industrial Select Sector SPDR Fund (XLI) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LDOS and XLI?
On 3 years of weekly data the LDOS/XLI correlation comes out at 0.42, moderate. The link has loosened recently: the 1-year correlation (0.27) runs below the 3-year figure (0.42). The 5-year figure is 0.46, and annualized covariance runs at 205.4 %².
Among the 36 assets we track against LDOS, XLI ranks #21 by 3-year correlation. The last year tells two different stories: XLI led by 41.2 percentage points, -22.9% for LDOS against +18.3% for XLI. On a rolling one-year basis the correlation drifted between 0.21 and 0.65, a moderate band. Risk is not evenly split, since LDOS carries 2.0 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.
LDOS vs XLI: side by side
| LDOS (Leidos) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -22.9% | +18.3% |
| 5-year return | +52.1% | +84.0% |
| Volatility (ann.) | 31.4% | 15.7% |
| Beta vs S&P 500 | 0.87 | 0.89 |
| Max drawdown (3Y) | -49.5% | -18.5% |
| Market cap | $17.6B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 1.23% | 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 | LDOS | XLI |
|---|---|---|
| 2022 | +20.0% | -5.6% |
| 2023 | +4.5% | +18.1% |
| 2024 | +34.5% | +17.3% |
| 2025 | +26.5% | +19.3% |
| 2026 | -22.0% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLI holds LDOS at a 0.3% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are LDOS and XLI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LDOS and XLI?
As of 2026-08-27, the correlation of weekly returns between LDOS and XLI is 0.42 over 3 years, 0.27 over 1 year and 0.46 over 5 years.
Is XLI a good diversifier for LDOS?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined 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/ldos-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ldos-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LDOS correlations · XLI correlations
