MOBX vs XLB: Correlation
Measured on weekly returns over the past three years, Mobix Labs, Inc. (MOBX) and Materials Select Sector SPDR Fund (XLB) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOBX and XLB?
Over the past 3 years, MOBX and XLB moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.39) runs below the 3-year figure (-0.18). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -1017.0 %².
By 3-year correlation, XLB places #31 of the 77 assets tracked against MOBX. The last year tells two different stories: XLB led by 105.6 percentage points, -88.0% for MOBX against +17.6% for XLB. Note the risk asymmetry: MOBX runs 19.9 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.
MOBX vs XLB: side by side
| MOBX (Mobix Labs, Inc.) | XLB (Materials Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -88.0% | +17.6% |
| 5-year return | -98.8% | +36.9% |
| Volatility (ann.) | 333.1% | 16.7% |
| Beta vs S&P 500 | -0.62 | 0.72 |
| Max drawdown (3Y) | -99.1% | -23.2% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.68% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.3B |
| Sector / category | US Listed | Sector ETF |
XLB is a Natural Resources fund from State Street Investment Management: $8.3B under management, 26 holdings, a 0.08% expense ratio, a 1.68% trailing dividend yield.
Year-by-year returns
| Year | MOBX | XLB |
|---|---|---|
| 2022 | +3.8% | -12.3% |
| 2023 | -60.6% | +12.5% |
| 2024 | -57.7% | +0.1% |
| 2025 | -84.3% | +9.9% |
| 2026 | -57.3% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOBX and XLB good diversifiers for each other?
Yes. With a correlation of -0.18, MOBX and XLB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MOBX and XLB?
As of 2026-08-27, the correlation of weekly returns between MOBX and XLB is -0.18 over 3 years, -0.39 over 1 year and -0.12 over 5 years.
Is XLB a good diversifier for MOBX?
Yes. With a correlation of -0.18, MOBX and XLB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mobx-vs-xlb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mobx-vs-xlb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MOBX correlations · XLB correlations
