ROK vs XLI: Correlation
How closely do Rockwell Automation (ROK) and Industrial Select Sector SPDR Fund (XLI) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ROK and XLI?
Over the past 3 years, ROK and XLI moved with a correlation of 0.52, which is moderate. The past 12 months show a weaker link (0.42) than the 3-year average (0.52). Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 226.7 %².
Within ROK's tracked universe of 37 assets, XLI comes in at #17 by 3-year correlation. On 12-month performance ROK holds a 7.4-point edge, +25.7% against +18.3%. The rolling one-year correlation moved between 0.38 and 0.85 over the past three years, a moderate range. Note the risk asymmetry: ROK runs 1.8 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.
ROK vs XLI: side by side
| ROK (Rockwell Automation) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +25.7% | +18.3% |
| 5-year return | +44.9% | +84.0% |
| Volatility (ann.) | 27.9% | 15.7% |
| Beta vs S&P 500 | 0.97 | 0.89 |
| Max drawdown (3Y) | -29.0% | -18.5% |
| Market cap | $48.2B | – |
| P/E (trailing) | 40.6 | – |
| Dividend yield | 1.26% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Industrials | 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 | ROK | XLI |
|---|---|---|
| 2022 | -24.8% | -5.6% |
| 2023 | +22.6% | +18.1% |
| 2024 | -6.2% | +17.3% |
| 2025 | +38.4% | +19.3% |
| 2026 | +12.4% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLI holds ROK at a 0.85% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ROK and XLI good diversifiers for each other?
Only partially. A correlation of 0.52 means ROK 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 ROK and XLI?
The ROK/XLI correlation stands at 0.52 on a 3-year window (1 year: 0.42, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is XLI a good diversifier for ROK?
Only partially. A correlation of 0.52 means ROK 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 0.52 mean?
A reading of 0.52 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/rok-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rok-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ROK correlations · XLI correlations
