MA vs XLC: Correlation
Mastercard (MA) and Communication Services Select Sector SPDR Fund (XLC) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MA and XLC?
Across a 3-year window, the weekly returns of MA and XLC correlate at 0.60, strong. The past 12 months show a weaker link (0.39) than the 3-year average (0.60). Stretching to 5 years gives 0.59, with an annualized covariance of 183.3 %².
Among the 46 assets we track against MA, XLC ranks #12 by 3-year correlation. Twelve-month performance is nearly a tie, at +0.8% for MA and +1.5% for XLC. On a rolling one-year basis the correlation drifted between 0.40 and 0.71, a moderate band.
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.
MA vs XLC: side by side
| MA (Mastercard) | XLC (Communication Services Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +0.8% | +1.5% |
| 5-year return | +72.6% | +37.5% |
| Volatility (ann.) | 19.3% | 16.0% |
| Beta vs S&P 500 | 0.77 | 0.90 |
| Max drawdown (3Y) | -20.9% | -18.0% |
| Market cap | $518.4B | – |
| P/E (trailing) | 32.9 | – |
| Dividend yield | 0.56% | 1.32% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $21.7B |
| Sector / category | Financials | 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 | MA | XLC |
|---|---|---|
| 2022 | -2.7% | -37.6% |
| 2023 | +23.4% | +52.8% |
| 2024 | +24.2% | +34.7% |
| 2025 | +9.0% | +23.1% |
| 2026 | +4.2% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MA and XLC good diversifiers for each other?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MA and XLC?
The MA/XLC correlation stands at 0.60 on a 3-year window (1 year: 0.39, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is XLC a good diversifier for MA?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.60 mean?
A reading of 0.60 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/ma-vs-xlc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ma-vs-xlc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MA correlations · XLC correlations
