LVS vs XLY: Correlation
How closely do Las Vegas Sands (LVS) and Consumer Discretionary Select Sector SPDR Fund (XLY) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LVS and XLY?
Across a 3-year window, the weekly returns of LVS and XLY correlate at 0.32, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.32 over 3 years. Stretching to 5 years gives 0.40, with an annualized covariance of 218.8 %².
By 3-year correlation, XLY places #17 of the 29 assets tracked against LVS. Their recent paths diverged sharply: over the last 12 months XLY outperformed by 20.2 percentage points (-20.3% for LVS against -0.1% for XLY). Across three years, the rolling one-year figure varied moderately, from 0.17 to 0.58. Note the risk asymmetry: LVS runs 1.8 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.
LVS vs XLY: side by side
| LVS (Las Vegas Sands) | XLY (Consumer Discretionary Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -20.3% | -0.1% |
| 5-year return | +8.5% | +31.8% |
| Volatility (ann.) | 34.8% | 19.7% |
| Beta vs S&P 500 | 0.75 | 1.15 |
| Max drawdown (3Y) | -44.0% | -26.0% |
| Market cap | $28.7B | – |
| P/E (trailing) | 17.1 | – |
| Dividend yield | 2.49% | 0.78% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $22.5B |
| Sector / category | Consumer Discretionary | Sector ETF |
XLY is a Consumer Cyclical fund from State Street Investment Management: $22.5B under management, 47 holdings, a 0.08% expense ratio, a 0.78% trailing dividend yield.
Year-by-year returns
| Year | LVS | XLY |
|---|---|---|
| 2022 | +27.7% | -36.3% |
| 2023 | +3.1% | +39.6% |
| 2024 | +6.2% | +26.5% |
| 2025 | +29.5% | +7.4% |
| 2026 | -30.8% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.34% of XLY is LVS itself, so the fund partly moves with the stock by construction.
Are LVS and XLY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LVS and XLY?
The LVS/XLY correlation stands at 0.32 on a 3-year window (1 year: 0.18, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is XLY a good diversifier for LVS?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 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/lvs-vs-xly.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lvs-vs-xly/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LVS correlations · XLY correlations
