MRVL vs XLK: Correlation
Measured on weekly returns over the past three years, Marvell Technology (MRVL) and Technology Select Sector SPDR Fund (XLK) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRVL and XLK?
Over the past 3 years, MRVL and XLK moved with a correlation of 0.63, which is strong. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.63). Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 867.4 %².
Few assets follow MRVL as closely as XLK, which ranks #3 of 30 tracked partners. The last year tells two different stories: MRVL led by 180.1 percentage points, +223.5% for MRVL against +43.4% for XLK. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.30 to 0.80. Note the risk asymmetry: MRVL runs 2.4 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.
MRVL vs XLK: side by side
| MRVL (Marvell Technology) | XLK (Technology Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +223.5% | +43.4% |
| 5-year return | +297.0% | +145.2% |
| Volatility (ann.) | 57.8% | 24.0% |
| Beta vs S&P 500 | 2.19 | 1.50 |
| Max drawdown (3Y) | -60.8% | -25.7% |
| Market cap | $217.0B | – |
| P/E (trailing) | 82.7 | – |
| Dividend yield | 0.10% | 0.45% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $115.4B |
| Sector / category | Information Technology | Sector ETF |
On the fund side, XLK sits in the Technology category at State Street Investment Management, with $115.4B under management, 73 holdings, a 0.08% expense ratio, a 0.45% trailing dividend yield.
Year-by-year returns
| Year | MRVL | XLK |
|---|---|---|
| 2022 | -57.5% | -27.7% |
| 2023 | +63.7% | +56.0% |
| 2024 | +83.8% | +21.6% |
| 2025 | -22.8% | +24.6% |
| 2026 | +184.5% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLK holds MRVL at a 1.44% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MRVL and XLK good diversifiers for each other?
To a limited degree. At 0.63 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 MRVL and XLK?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.44 over the last year and 0.66 over 5 years.
Is XLK a good diversifier for MRVL?
To a limited degree. At 0.63 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 0.63 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/mrvl-vs-xlk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mrvl-vs-xlk/)
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Related comparisons
Hubs: MRVL correlations · XLK correlations
