QCOM vs XLK: Correlation
How closely do Qualcomm (QCOM) and Technology Select Sector SPDR Fund (XLK) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QCOM and XLK?
Across a 3-year window, the weekly returns of QCOM and XLK correlate at 0.70, strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Stretching to 5 years gives 0.71, with an annualized covariance of 715.4 %².
Within QCOM's tracked universe of 41 assets, XLK comes in at #4 by 3-year correlation. The last year tells two different stories: XLK led by 38.1 percentage points, +5.3% for QCOM against +43.4% for XLK. The rolling one-year correlation stayed in a tight band between 0.61 and 0.85 over the past three years, which points to a structural rather than episodic relationship. Risk is not evenly split, since QCOM carries 1.8 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.
QCOM vs XLK: side by side
| QCOM (Qualcomm) | XLK (Technology Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +5.3% | +43.4% |
| 5-year return | +25.8% | +145.2% |
| Volatility (ann.) | 42.4% | 24.0% |
| Beta vs S&P 500 | 1.77 | 1.50 |
| Max drawdown (3Y) | -44.2% | -25.7% |
| Market cap | $176.0B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.19% | 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 | QCOM | XLK |
|---|---|---|
| 2022 | -38.6% | -27.7% |
| 2023 | +35.1% | +56.0% |
| 2024 | +8.3% | +21.6% |
| 2025 | +13.8% | +24.6% |
| 2026 | -2.7% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.15% of XLK is QCOM itself, so the fund partly moves with the stock by construction.
Are QCOM and XLK good diversifiers for each other?
Only partially. A correlation of 0.70 means QCOM and XLK 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 QCOM and XLK?
The QCOM/XLK correlation stands at 0.70 on a 3-year window (1 year: 0.71, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is XLK a good diversifier for QCOM?
Only partially. A correlation of 0.70 means QCOM and XLK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
A reading of 0.70 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/qcom-vs-xlk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qcom-vs-xlk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: QCOM correlations · XLK correlations
