RBC vs XLI: Correlation
Measured on weekly returns over the past three years, RBC Bearings Incorporated (RBC) and Industrial Select Sector SPDR Fund (XLI) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RBC and XLI?
On 3 years of weekly data the RBC/XLI correlation comes out at 0.63, strong. Little has changed lately, as the 1-year reading of 0.72 lands near the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 262.6 %².
In RBC's tracked universe of 12 assets, XLI sits right near the top at #2. On 12-month performance RBC holds a 9.1-point edge, +27.4% against +18.3%. Note the risk asymmetry: RBC runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
RBC vs XLI: side by side
| RBC (RBC Bearings Incorporated) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +27.4% | +18.3% |
| 5-year return | +128.1% | +84.0% |
| Volatility (ann.) | 26.5% | 15.7% |
| Beta vs S&P 500 | 0.87 | 0.89 |
| Max drawdown (3Y) | -23.6% | -18.5% |
| Market cap | $16.1B | – |
| P/E (trailing) | 50.7 | – |
| 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 | RBC | XLI |
|---|---|---|
| 2022 | +4.2% | -5.6% |
| 2023 | +36.1% | +18.1% |
| 2024 | +5.0% | +17.3% |
| 2025 | +49.9% | +19.3% |
| 2026 | +13.5% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RBC and XLI good diversifiers for each other?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between RBC and XLI?
The RBC/XLI correlation stands at 0.63 on a 3-year window (1 year: 0.72, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is XLI a good diversifier for RBC?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.63 mean?
A reading of 0.63 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/rbc-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rbc-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RBC correlations · XLI correlations
