SF vs XLF: Correlation
Measured on weekly returns over the past three years, Stifel Financial Corporation (SF) and Financial Select Sector SPDR Fund (XLF) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SF and XLF?
Over the past 3 years, SF and XLF moved with a correlation of 0.80, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.74 over 1 year against 0.80 over 3. Over 5 years the correlation is 0.82, and the annualized covariance of weekly returns is 351.6 %².
In SF's tracked universe of 24 assets, XLF sits right near the top at #2. Neither side won the trailing year by much: +6.0% against +9.3%. Note the risk asymmetry: SF 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.
SF vs XLF: side by side
| SF (Stifel Financial Corporation) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +6.0% | +9.3% |
| 5-year return | +92.0% | +64.2% |
| Volatility (ann.) | 27.2% | 16.2% |
| Beta vs S&P 500 | 1.23 | 0.84 |
| Max drawdown (3Y) | -34.7% | -15.5% |
| Market cap | $12.2B | – |
| P/E (trailing) | 14.4 | – |
| Dividend yield | 1.59% | 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 | SF | XLF |
|---|---|---|
| 2022 | -15.6% | -10.6% |
| 2023 | +21.2% | +12.0% |
| 2024 | +56.4% | +30.6% |
| 2025 | +20.1% | +14.9% |
| 2026 | -2.3% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SF and XLF good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between SF and XLF?
The SF/XLF correlation stands at 0.80 on a 3-year window (1 year: 0.74, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is XLF a good diversifier for SF?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sf-vs-xlf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sf-vs-xlf/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SF correlations · XLF correlations
