OSIS vs XLI: Correlation
Measured on weekly returns over the past three years, OSI Systems, Inc. (OSIS) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OSIS and XLI?
Across a 3-year window, the weekly returns of OSIS and XLI correlate at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 356.6 %².
Among the 12 assets we track against OSIS, XLI ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XLI outperformed by 26.8 percentage points (-8.5% for OSIS against +18.3% for XLI). Risk is not evenly split, since OSIS carries 2.4 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.
OSIS vs XLI: side by side
| OSIS (OSI Systems, Inc.) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -8.5% | +18.3% |
| 5-year return | +113.6% | +84.0% |
| Volatility (ann.) | 38.1% | 15.7% |
| Beta vs S&P 500 | 1.39 | 0.89 |
| Max drawdown (3Y) | -36.2% | -18.5% |
| Market cap | $3.4B | – |
| P/E (trailing) | 23.6 | – |
| 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 | OSIS | XLI |
|---|---|---|
| 2022 | -14.7% | -5.6% |
| 2023 | +62.3% | +18.1% |
| 2024 | +29.7% | +17.3% |
| 2025 | +52.3% | +19.3% |
| 2026 | -17.3% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OSIS and XLI good diversifiers for each other?
Only partially. A correlation of 0.59 means OSIS and XLI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between OSIS and XLI?
As of 2026-08-27, the correlation of weekly returns between OSIS and XLI is 0.59 over 3 years, 0.49 over 1 year and 0.55 over 5 years.
Is XLI a good diversifier for OSIS?
Only partially. A correlation of 0.59 means OSIS and XLI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/osis-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/osis-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OSIS correlations · XLI correlations
