MOBX vs XLP: Correlation
Measured on weekly returns over the past three years, Mobix Labs, Inc. (MOBX) and Consumer Staples Select Sector SPDR Fund (XLP) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOBX and XLP?
On 3 years of weekly data the MOBX/XLP correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.20). The 5-year figure is -0.13, and annualized covariance runs at -730.1 %².
By 3-year correlation, XLP places #44 of the 77 assets tracked against MOBX. Their recent paths diverged sharply: over the last 12 months XLP outperformed by 96.3 percentage points (-88.0% for MOBX against +8.3% for XLP). Note the risk asymmetry: MOBX runs 30.0 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 XLP: side by side
| MOBX (Mobix Labs, Inc.) | XLP (Consumer Staples Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -88.0% | +8.3% |
| 5-year return | -98.8% | +34.7% |
| Volatility (ann.) | 333.1% | 11.1% |
| Beta vs S&P 500 | -0.62 | 0.23 |
| Max drawdown (3Y) | -99.1% | -9.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.58% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $14.6B |
| Sector / category | US Listed | Sector ETF |
On the fund side, XLP sits in the Consumer Defensive category at State Street Investment Management, with $14.6B under management, 35 holdings, a 0.08% expense ratio, a 2.58% trailing dividend yield.
Year-by-year returns
| Year | MOBX | XLP |
|---|---|---|
| 2022 | +3.8% | -0.8% |
| 2023 | -60.6% | -0.8% |
| 2024 | -57.7% | +12.2% |
| 2025 | -84.3% | +1.5% |
| 2026 | -57.3% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOBX and XLP good diversifiers for each other?
Yes. With a correlation of -0.20, MOBX and XLP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MOBX and XLP?
As of 2026-08-27, the correlation of weekly returns between MOBX and XLP is -0.20 over 3 years, -0.34 over 1 year and -0.13 over 5 years.
Is XLP a good diversifier for MOBX?
Yes. With a correlation of -0.20, MOBX and XLP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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/mobx-vs-xlp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mobx-vs-xlp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MOBX correlations · XLP correlations
