RRX vs XLI: Correlation
Regal Rexnord Corporation (RRX) and Industrial Select Sector SPDR Fund (XLI) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RRX and XLI?
On 3 years of weekly data the RRX/XLI correlation comes out at 0.62, strong. Recent behaviour matches the longer record: 0.64 over 1 year against 0.62 over 3. The 5-year figure is 0.60, and annualized covariance runs at 409.4 %².
By 3-year correlation, XLI places #5 of the 24 assets tracked against RRX. Over the last 12 months XLI came out ahead by 10.1 percentage points (+8.2% against +18.3%). One caveat on sizing: RRX is 2.7 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.
RRX vs XLI: side by side
| RRX (Regal Rexnord Corporation) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +8.2% | +18.3% |
| 5-year return | +18.1% | +84.0% |
| Volatility (ann.) | 42.0% | 15.7% |
| Beta vs S&P 500 | 1.10 | 0.89 |
| Max drawdown (3Y) | -48.1% | -18.5% |
| Market cap | $10.9B | – |
| P/E (trailing) | 34.0 | – |
| Dividend yield | 0.85% | 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 | RRX | XLI |
|---|---|---|
| 2022 | -28.7% | -5.6% |
| 2023 | +24.6% | +18.1% |
| 2024 | +5.7% | +17.3% |
| 2025 | -8.6% | +19.3% |
| 2026 | +17.2% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RRX and XLI good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RRX and XLI?
As of 2026-08-27, the correlation of weekly returns between RRX and XLI is 0.62 over 3 years, 0.64 over 1 year and 0.60 over 5 years.
Is XLI a good diversifier for RRX?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 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/rrx-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rrx-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RRX correlations · XLI correlations
