MYRG vs XLI: Correlation
Measured on weekly returns over the past three years, MYR Group, Inc. (MYRG) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MYRG and XLI?
Across a 3-year window, the weekly returns of MYRG and XLI correlate at 0.58, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.40 versus 0.58 over 3 years. Stretching to 5 years gives 0.52, with an annualized covariance of 453.8 %².
By 3-year correlation, XLI places #5 of the 14 assets tracked against MYRG. The last year tells two different stories: MYRG led by 47.2 percentage points, +65.5% for MYRG against +18.3% for XLI. Note the risk asymmetry: MYRG runs 3.2 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.
MYRG vs XLI: side by side
| MYRG (MYR Group, Inc.) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +65.5% | +18.3% |
| 5-year return | +196.6% | +84.0% |
| Volatility (ann.) | 49.8% | 15.7% |
| Beta vs S&P 500 | 1.63 | 0.89 |
| Max drawdown (3Y) | -50.3% | -18.5% |
| Market cap | $4.8B | – |
| P/E (trailing) | 29.7 | – |
| Dividend yield | 0.00% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | US Listed | 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 | MYRG | XLI |
|---|---|---|
| 2022 | -16.7% | -5.6% |
| 2023 | +57.1% | +18.1% |
| 2024 | +2.9% | +17.3% |
| 2025 | +46.9% | +19.3% |
| 2026 | +41.6% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MYRG and XLI good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MYRG and XLI?
The MYRG/XLI correlation stands at 0.58 on a 3-year window (1 year: 0.40, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is XLI a good diversifier for MYRG?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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/myrg-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/myrg-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MYRG correlations · XLI correlations
