LYV vs XLC: Correlation
Measured on weekly returns over the past three years, Live Nation Entertainment (LYV) and Communication Services Select Sector SPDR Fund (XLC) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYV and XLC?
Across a 3-year window, the weekly returns of LYV and XLC correlate at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.32) runs below the 3-year figure (0.49). Stretching to 5 years gives 0.51, with an annualized covariance of 221.5 %².
Among the 35 assets we track against LYV, XLC ranks #17 by 3-year correlation. Over the last 12 months LYV came out ahead by 7.6 percentage points (+9.1% against +1.5%). The rolling one-year correlation moved between 0.25 and 0.64 over the past three years, a moderate range. Note the risk asymmetry: LYV 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.
LYV vs XLC: side by side
| LYV (Live Nation Entertainment) | XLC (Communication Services Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +9.1% | +1.5% |
| 5-year return | +108.7% | +37.5% |
| Volatility (ann.) | 28.1% | 16.0% |
| Beta vs S&P 500 | 1.02 | 0.90 |
| Max drawdown (3Y) | -27.8% | -18.0% |
| Market cap | $42.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.32% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $21.7B |
| Sector / category | Communication Services | Sector ETF |
On the fund side, XLC sits in the Communications category at State Street Investment Management, with $21.7B under management, 24 holdings, a 0.08% expense ratio, a 1.32% trailing dividend yield.
Year-by-year returns
| Year | LYV | XLC |
|---|---|---|
| 2022 | -41.7% | -37.6% |
| 2023 | +34.2% | +52.8% |
| 2024 | +38.4% | +34.7% |
| 2025 | +10.0% | +23.1% |
| 2026 | +26.8% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
LYV represents 4.39% of XLC's portfolio, so part of any move in XLC is LYV itself, and the correlation between them is partly mechanical.
Are LYV and XLC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LYV and XLC?
The LYV/XLC correlation stands at 0.49 on a 3-year window (1 year: 0.32, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is XLC a good diversifier for LYV?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lyv-vs-xlc.json
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[](https://www.pairbook.io/pair/lyv-vs-xlc/)
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Related comparisons
Hubs: LYV correlations · XLC correlations
