SSNC vs XLF: Correlation
Measured on weekly returns over the past three years, SS&C Technologies Holdings, Inc. (SSNC) and Financial Select Sector SPDR Fund (XLF) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SSNC and XLF?
On 3 years of weekly data the SSNC/XLF correlation comes out at 0.63, strong. The past 12 months show a weaker link (0.50) than the 3-year average (0.63). The 5-year figure is 0.68, and annualized covariance runs at 233.5 %².
Within SSNC's tracked universe of 25 assets, XLF comes in at #5 by 3-year correlation. Over the last 12 months XLF came out ahead by 14.7 percentage points (-5.4% against +9.3%).
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.
SSNC vs XLF: side by side
| SSNC (SS&C Technologies Holdings, Inc.) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -5.4% | +9.3% |
| 5-year return | +17.5% | +64.2% |
| Volatility (ann.) | 23.0% | 16.2% |
| Beta vs S&P 500 | 0.82 | 0.84 |
| Max drawdown (3Y) | -30.4% | -15.5% |
| Market cap | $19.6B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 1.30% | 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 | SSNC | XLF |
|---|---|---|
| 2022 | -35.7% | -10.6% |
| 2023 | +19.2% | +12.0% |
| 2024 | +25.8% | +30.6% |
| 2025 | +16.8% | +14.9% |
| 2026 | -3.8% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SSNC and XLF good diversifiers for each other?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SSNC and XLF?
The SSNC/XLF correlation stands at 0.63 on a 3-year window (1 year: 0.50, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is XLF a good diversifier for SSNC?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.63 mean?
A reading of 0.63 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: SSNC correlations · XLF correlations
