MAS vs XLI: Correlation
Measured on weekly returns over the past three years, Masco (MAS) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAS and XLI?
Across a 3-year window, the weekly returns of MAS and XLI correlate at 0.62, strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 286.8 %².
By 3-year correlation, XLI places #32 of the 61 assets tracked against MAS. Correlation aside, the last 12 months split them widely, with XLI ahead by 18.8 points (-0.5% versus +18.3%). The rolling one-year correlation stayed in a tight band between 0.54 and 0.77 over the past three years, which points to a structural rather than episodic relationship. One caveat on sizing: MAS is 1.9 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.
MAS vs XLI: side by side
| MAS (Masco) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -0.5% | +18.3% |
| 5-year return | +29.1% | +84.0% |
| Volatility (ann.) | 29.6% | 15.7% |
| Beta vs S&P 500 | 0.95 | 0.89 |
| Max drawdown (3Y) | -30.9% | -18.5% |
| Market cap | $14.4B | – |
| P/E (trailing) | 17.0 | – |
| Dividend yield | 1.71% | 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 | MAS | XLI |
|---|---|---|
| 2022 | -32.1% | -5.6% |
| 2023 | +46.6% | +18.1% |
| 2024 | +10.0% | +17.3% |
| 2025 | -10.9% | +19.3% |
| 2026 | +16.3% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
MAS represents 0.26% of XLI's portfolio, so part of any move in XLI is MAS itself, and the correlation between them is partly mechanical.
Are MAS and XLI good diversifiers for each other?
Only partially. A correlation of 0.62 means MAS and XLI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MAS and XLI?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.59 over the last year and 0.61 over 5 years.
Is XLI a good diversifier for MAS?
Only partially. A correlation of 0.62 means MAS and XLI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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/mas-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mas-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MAS correlations · XLI correlations
