NRG vs XLI: Correlation
Measured on weekly returns over the past three years, NRG Energy (NRG) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRG and XLI?
On 3 years of weekly data the NRG/XLI correlation comes out at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.38) runs below the 3-year figure (0.52). The 5-year figure is 0.47, and annualized covariance runs at 362.3 %².
By 3-year correlation, XLI places #13 of the 31 assets tracked against NRG. Correlation aside, the last 12 months split them widely, with XLI ahead by 40.1 points (-21.8% versus +18.3%). The rolling one-year correlation moved between 0.29 and 0.69 over the past three years, a moderate range. Risk is not evenly split, since NRG carries 2.8 times the volatility of the other side.
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.
NRG vs XLI: side by side
| NRG (NRG Energy) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -21.8% | +18.3% |
| 5-year return | +191.5% | +84.0% |
| Volatility (ann.) | 44.4% | 15.7% |
| Beta vs S&P 500 | 1.30 | 0.89 |
| Max drawdown (3Y) | -38.9% | -18.5% |
| Market cap | $24.1B | – |
| P/E (trailing) | 30.2 | – |
| Dividend yield | 1.61% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Utilities | 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 | NRG | XLI |
|---|---|---|
| 2022 | -23.5% | -5.6% |
| 2023 | +69.4% | +18.1% |
| 2024 | +78.6% | +17.3% |
| 2025 | +78.9% | +19.3% |
| 2026 | -27.5% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRG and XLI good diversifiers for each other?
To a limited degree. At 0.52 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 NRG and XLI?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.38 over the last year and 0.47 over 5 years.
Is XLI a good diversifier for NRG?
To a limited degree. At 0.52 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 0.52 mean?
A reading of 0.52 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/nrg-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nrg-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NRG correlations · XLI correlations
