RCL vs XLF: Correlation
Royal Caribbean Group (RCL) and Financial Select Sector SPDR Fund (XLF) 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 RCL and XLF?
Across a 3-year window, the weekly returns of RCL and XLF correlate at 0.59, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.33 versus 0.59 over 3 years. Stretching to 5 years gives 0.58, with an annualized covariance of 395.9 %².
Within RCL's tracked universe of 37 assets, XLF comes in at #13 by 3-year correlation. The last year tells two different stories: XLF led by 28.6 percentage points, -19.3% for RCL against +9.3% for XLF. Across three years, the rolling one-year figure varied moderately, from 0.36 to 0.79. One caveat on sizing: RCL is 2.5 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.
RCL vs XLF: side by side
| RCL (Royal Caribbean Group) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -19.3% | +9.3% |
| 5-year return | +257.6% | +64.2% |
| Volatility (ann.) | 41.3% | 16.2% |
| Beta vs S&P 500 | 1.46 | 0.84 |
| Max drawdown (3Y) | -35.0% | -15.5% |
| Market cap | $76.2B | – |
| P/E (trailing) | 17.9 | – |
| Dividend yield | 1.72% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | Consumer Discretionary | Sector ETF |
XLF is a Financial fund from State Street Investment Management: $57.9B under management, 77 holdings, a 0.08% expense ratio, a 1.42% trailing dividend yield.
Year-by-year returns
| Year | RCL | XLF |
|---|---|---|
| 2022 | -35.7% | -10.6% |
| 2023 | +162.0% | +12.0% |
| 2024 | +79.0% | +30.6% |
| 2025 | +22.5% | +14.9% |
| 2026 | +3.2% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RCL and XLF good diversifiers for each other?
Only partially. A correlation of 0.59 means RCL and XLF 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 RCL and XLF?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.33 over the last year and 0.58 over 5 years.
Is XLF a good diversifier for RCL?
Only partially. A correlation of 0.59 means RCL and XLF 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?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: RCL correlations · XLF correlations
