NXPI vs XLK: Correlation
NXP Semiconductors (NXPI) and Technology Select Sector SPDR Fund (XLK) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXPI and XLK?
On 3 years of weekly data the NXPI/XLK correlation comes out at 0.59, moderate. The past 12 months show a weaker link (0.47) than the 3-year average (0.59). The 5-year figure is 0.64, and annualized covariance runs at 567.8 %².
Among the 35 assets we track against NXPI, XLK ranks #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XLK ahead by 46.7 points (-3.3% versus +43.4%). The rolling one-year correlation moved between 0.37 and 0.81 over the past three years, a moderate range. One caveat on sizing: NXPI is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NXPI vs XLK: side by side
| NXPI (NXP Semiconductors) | XLK (Technology Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -3.3% | +43.4% |
| 5-year return | +8.6% | +145.2% |
| Volatility (ann.) | 39.9% | 24.0% |
| Beta vs S&P 500 | 1.53 | 1.50 |
| Max drawdown (3Y) | -46.5% | -25.7% |
| Market cap | $57.0B | – |
| P/E (trailing) | 19.3 | – |
| Dividend yield | 1.82% | 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 | NXPI | XLK |
|---|---|---|
| 2022 | -29.2% | -27.7% |
| 2023 | +48.4% | +56.0% |
| 2024 | -8.0% | +21.6% |
| 2025 | +6.4% | +24.6% |
| 2026 | +4.9% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
NXPI represents 0.38% of XLK's portfolio, so part of any move in XLK is NXPI itself, and the correlation between them is partly mechanical.
Are NXPI and XLK good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NXPI and XLK?
As of 2026-08-27, the correlation of weekly returns between NXPI and XLK is 0.59 over 3 years, 0.47 over 1 year and 0.64 over 5 years.
Is XLK a good diversifier for NXPI?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 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.
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Related comparisons
Hubs: NXPI correlations · XLK correlations
