NVR vs XLY: Correlation
How closely do NVR, Inc. (NVR) and Consumer Discretionary Select Sector SPDR Fund (XLY) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVR and XLY?
Across a 3-year window, the weekly returns of NVR and XLY correlate at 0.40, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.40 over 3. Stretching to 5 years gives 0.49, with an annualized covariance of 183.1 %².
By 3-year correlation, XLY places #24 of the 38 assets tracked against NVR. Their recent paths diverged sharply: over the last 12 months XLY outperformed by 20.7 percentage points (-20.8% for NVR against -0.1% for XLY). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.21 to 0.75.
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.
NVR vs XLY: side by side
| NVR (NVR, Inc.) | XLY (Consumer Discretionary Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -20.8% | -0.1% |
| 5-year return | +24.2% | +31.8% |
| Volatility (ann.) | 23.4% | 19.7% |
| Beta vs S&P 500 | 0.53 | 1.15 |
| Max drawdown (3Y) | -43.9% | -26.0% |
| Market cap | $17.0B | – |
| P/E (trailing) | 16.6 | – |
| Dividend yield | 0.00% | 0.78% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $22.5B |
| Sector / category | Consumer Discretionary | Sector ETF |
XLY is a Consumer Cyclical fund from State Street Investment Management: $22.5B under management, 47 holdings, a 0.08% expense ratio, a 0.78% trailing dividend yield.
Year-by-year returns
| Year | NVR | XLY |
|---|---|---|
| 2022 | -21.9% | -36.3% |
| 2023 | +51.8% | +39.6% |
| 2024 | +16.8% | +26.5% |
| 2025 | -10.8% | +7.4% |
| 2026 | -12.7% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLY holds NVR at a 0.43% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are NVR and XLY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NVR and XLY?
The NVR/XLY correlation stands at 0.40 on a 3-year window (1 year: 0.34, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is XLY a good diversifier for NVR?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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/nvr-vs-xly.json
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Related comparisons
Hubs: NVR correlations · XLY correlations
