SEIC vs XLF: Correlation
How closely do SEI Investments Company (SEIC) and Financial Select Sector SPDR Fund (XLF) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SEIC and XLF?
Over the past 3 years, SEIC and XLF moved with a correlation of 0.66, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.45 versus 0.66 over 3 years. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 221.7 %².
XLF is one of the assets that tracks SEIC most closely: it ranks #3 out of the 14 assets we track against SEIC. The last year tells two different stories: SEIC led by 15.1 percentage points, +24.4% for SEIC against +9.3% for XLF.
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.
SEIC vs XLF: side by side
| SEIC (SEI Investments Company) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +24.4% | +9.3% |
| 5-year return | +89.5% | +64.2% |
| Volatility (ann.) | 20.7% | 16.2% |
| Beta vs S&P 500 | 0.91 | 0.84 |
| Max drawdown (3Y) | -23.3% | -15.5% |
| Market cap | $13.4B | – |
| P/E (trailing) | 19.6 | – |
| Dividend yield | 0.94% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | US Listed | 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 | SEIC | XLF |
|---|---|---|
| 2022 | -2.9% | -10.6% |
| 2023 | +10.6% | +12.0% |
| 2024 | +31.5% | +30.6% |
| 2025 | +0.6% | +14.9% |
| 2026 | +36.5% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SEIC and XLF good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SEIC and XLF?
As of 2026-08-27, the correlation of weekly returns between SEIC and XLF is 0.66 over 3 years, 0.45 over 1 year and 0.75 over 5 years.
Is XLF a good diversifier for SEIC?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: SEIC correlations · XLF correlations
