TCRT vs XLI: Correlation
Alaunos Therapeutics, Inc. (TCRT) and Industrial Select Sector SPDR Fund (XLI) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TCRT and XLI?
Across a 3-year window, the weekly returns of TCRT and XLI correlate at -0.17, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.10 lands near the 3-year figure. Stretching to 5 years gives -0.03, with an annualized covariance of -320.6 %².
By 3-year correlation, XLI places #37 of the 131 assets tracked against TCRT. Correlation aside, the last 12 months split them widely, with XLI ahead by 30.5 points (-12.2% versus +18.3%). Note the risk asymmetry: TCRT runs 7.8 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.
TCRT vs XLI: side by side
| TCRT (Alaunos Therapeutics, Inc.) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -12.2% | +18.3% |
| 5-year return | -99.3% | +84.0% |
| Volatility (ann.) | 121.9% | 15.7% |
| Beta vs S&P 500 | -1.11 | 0.89 |
| Max drawdown (3Y) | -95.0% | -18.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | US Listed | Sector ETF |
XLI is an Industrials fund from State Street Investment Management: $32.9B under management, 83 holdings, a 0.08% expense ratio, a 1.15% trailing dividend yield.
Year-by-year returns
| Year | TCRT | XLI |
|---|---|---|
| 2022 | -40.4% | -5.6% |
| 2023 | -89.2% | +18.1% |
| 2024 | -81.8% | +17.3% |
| 2025 | +69.1% | +19.3% |
| 2026 | -48.6% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TCRT and XLI good diversifiers for each other?
Yes. With a correlation of -0.17, TCRT and XLI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TCRT and XLI?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.10 over the last year and -0.03 over 5 years.
Is XLI a good diversifier for TCRT?
Yes. With a correlation of -0.17, TCRT and XLI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tcrt-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tcrt-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TCRT correlations · XLI correlations
