TCRT vs XLB: Correlation
Alaunos Therapeutics, Inc. (TCRT) and Materials Select Sector SPDR Fund (XLB) show a negative relationship: their 3-year correlation of weekly returns is -0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TCRT and XLB?
Over the past 3 years, TCRT and XLB moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -308.3 %².
Among the 131 assets we track against TCRT, XLB ranks #18 by 3-year correlation. The last year tells two different stories: XLB led by 29.8 percentage points, -12.2% for TCRT against +17.6% for XLB. One caveat on sizing: TCRT is 7.3 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.
TCRT vs XLB: side by side
| TCRT (Alaunos Therapeutics, Inc.) | XLB (Materials Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -12.2% | +17.6% |
| 5-year return | -99.3% | +36.9% |
| Volatility (ann.) | 121.9% | 16.7% |
| Beta vs S&P 500 | -1.11 | 0.72 |
| Max drawdown (3Y) | -95.0% | -23.2% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.68% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.3B |
| Sector / category | US Listed | Sector ETF |
XLB is a Natural Resources fund from State Street Investment Management: $8.3B under management, 26 holdings, a 0.08% expense ratio, a 1.68% trailing dividend yield.
Year-by-year returns
| Year | TCRT | XLB |
|---|---|---|
| 2022 | -40.4% | -12.3% |
| 2023 | -89.2% | +12.5% |
| 2024 | -81.8% | +0.1% |
| 2025 | +69.1% | +9.9% |
| 2026 | -48.6% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TCRT and XLB good diversifiers for each other?
Yes. With a correlation of -0.15, TCRT and XLB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TCRT and XLB?
The TCRT/XLB correlation stands at -0.15 on a 3-year window (1 year: -0.12, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is XLB a good diversifier for TCRT?
Yes. With a correlation of -0.15, TCRT and XLB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.15 mean?
A reading of -0.15 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/tcrt-vs-xlb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/tcrt-vs-xlb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TCRT correlations · XLB correlations
