SWKS vs XLK: Correlation
Measured on weekly returns over the past three years, Skyworks Solutions (SWKS) and Technology Select Sector SPDR Fund (XLK) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SWKS and XLK?
On 3 years of weekly data the SWKS/XLK correlation comes out at 0.51, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.51 over 3 years. The 5-year figure is 0.60, and annualized covariance runs at 485.6 %².
Within SWKS's tracked universe of 36 assets, XLK comes in at #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XLK outperformed by 52.1 percentage points (-8.7% for SWKS against +43.4% for XLK). Across three years, the rolling one-year figure varied moderately, from 0.35 to 0.74. Note the risk asymmetry: SWKS 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.
SWKS vs XLK: side by side
| SWKS (Skyworks Solutions) | XLK (Technology Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -8.7% | +43.4% |
| 5-year return | -58.3% | +145.2% |
| Volatility (ann.) | 40.0% | 24.0% |
| Beta vs S&P 500 | 1.43 | 1.50 |
| Max drawdown (3Y) | -58.2% | -25.7% |
| Market cap | $10.1B | – |
| P/E (trailing) | 34.9 | – |
| Dividend yield | 4.26% | 0.45% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $115.4B |
| Sector / category | Information Technology | Sector ETF |
On the fund side, XLK sits in the Technology category at State Street Investment Management, with $115.4B under management, 73 holdings, a 0.08% expense ratio, a 0.45% trailing dividend yield.
Year-by-year returns
| Year | SWKS | XLK |
|---|---|---|
| 2022 | -39.9% | -27.7% |
| 2023 | +26.5% | +56.0% |
| 2024 | -18.9% | +21.6% |
| 2025 | -25.5% | +24.6% |
| 2026 | +8.4% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
SWKS represents 0.07% of XLK's portfolio, so part of any move in XLK is SWKS itself, and the correlation between them is partly mechanical.
Are SWKS and XLK good diversifiers for each other?
To a limited degree. At 0.51 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 SWKS and XLK?
The SWKS/XLK correlation stands at 0.51 on a 3-year window (1 year: 0.41, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is XLK a good diversifier for SWKS?
To a limited degree. At 0.51 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 0.51 mean?
A reading of 0.51 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/swks-vs-xlk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/swks-vs-xlk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SWKS correlations · XLK correlations
