TITN vs XLB: Correlation
How closely do Titan Machinery Inc. (TITN) and Materials Select Sector SPDR Fund (XLB) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TITN and XLB?
On 3 years of weekly data the TITN/XLB correlation comes out at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 455.9 %².
Within TITN's tracked universe of 10 assets, XLB comes in at #4 by 3-year correlation. The last year tells two different stories: XLB led by 29.9 percentage points, -12.3% for TITN against +17.6% for XLB. Risk is not evenly split, since TITN carries 2.9 times the volatility of the other side.
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.
TITN vs XLB: side by side
| TITN (Titan Machinery Inc.) | XLB (Materials Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -12.3% | +17.6% |
| 5-year return | -35.8% | +36.9% |
| Volatility (ann.) | 48.9% | 16.7% |
| Beta vs S&P 500 | 1.27 | 0.72 |
| Max drawdown (3Y) | -58.5% | -23.2% |
| Market cap | $0.4B | – |
| 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 | TITN | XLB |
|---|---|---|
| 2022 | +17.9% | -12.3% |
| 2023 | -27.3% | +12.5% |
| 2024 | -51.1% | +0.1% |
| 2025 | +6.4% | +9.9% |
| 2026 | +22.5% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TITN and XLB good diversifiers for each other?
Only partially. A correlation of 0.56 means TITN and XLB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between TITN and XLB?
The TITN/XLB correlation stands at 0.56 on a 3-year window (1 year: 0.58, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is XLB a good diversifier for TITN?
Only partially. A correlation of 0.56 means TITN and XLB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 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/titn-vs-xlb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/titn-vs-xlb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TITN correlations · XLB correlations
