PRM vs XLB: Correlation
How closely do Perimeter Solutions, SA (PRM) and Materials Select Sector SPDR Fund (XLB) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRM and XLB?
Over the past 3 years, PRM and XLB moved with a correlation of 0.48, which is moderate. The past 12 months show a weaker link (0.35) than the 3-year average (0.48). Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 396.3 %².
In PRM's tracked universe of 10 assets, XLB sits right near the top at #3. Correlation aside, the last 12 months split them widely, with PRM ahead by 29.3 points (+46.9% versus +17.6%). One caveat on sizing: PRM is 2.9 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.
PRM vs XLB: side by side
| PRM (Perimeter Solutions, SA) | XLB (Materials Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +46.9% | +17.6% |
| 5-year return | +166.9% | +36.9% |
| Volatility (ann.) | 49.1% | 16.7% |
| Beta vs S&P 500 | 1.44 | 0.72 |
| Max drawdown (3Y) | -51.3% | -23.2% |
| Market cap | $5.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.68% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.3B |
| Sector / category | US Listed | Sector ETF |
XLB is a Natural Resources fund from State Street Investment Management: $8.3B under management, 26 holdings, a 0.08% expense ratio, a 1.68% trailing dividend yield.
Year-by-year returns
| Year | PRM | XLB |
|---|---|---|
| 2022 | -34.2% | -12.3% |
| 2023 | -49.7% | +12.5% |
| 2024 | +177.8% | +0.1% |
| 2025 | +115.4% | +9.9% |
| 2026 | +16.3% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRM and XLB good diversifiers for each other?
Reasonably. At 0.48, PRM and XLB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PRM and XLB?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.35 over the last year and 0.49 over 5 years.
Is XLB a good diversifier for PRM?
Reasonably. At 0.48, PRM and XLB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/prm-vs-xlb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/prm-vs-xlb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PRM correlations · XLB correlations
