TRMB vs XLK: Correlation
How closely do Trimble Inc. (TRMB) and Technology Select Sector SPDR Fund (XLK) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TRMB and XLK?
Across a 3-year window, the weekly returns of TRMB and XLK correlate at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.40 over 3 years. Stretching to 5 years gives 0.57, with an annualized covariance of 293.5 %².
Among the 43 assets we track against TRMB, XLK ranks #31 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XLK outperformed by 68.5 percentage points (-25.1% for TRMB against +43.4% for XLK). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.06 to 0.79.
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.
TRMB vs XLK: side by side
| TRMB (Trimble Inc.) | XLK (Technology Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -25.1% | +43.4% |
| 5-year return | -35.7% | +145.2% |
| Volatility (ann.) | 30.9% | 24.0% |
| Beta vs S&P 500 | 1.13 | 1.50 |
| Max drawdown (3Y) | -42.7% | -25.7% |
| Market cap | $14.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | TRMB | XLK |
|---|---|---|
| 2022 | -42.0% | -27.7% |
| 2023 | +5.2% | +56.0% |
| 2024 | +32.8% | +21.6% |
| 2025 | +10.9% | +24.6% |
| 2026 | -21.5% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
TRMB represents 0.09% of XLK's portfolio, so part of any move in XLK is TRMB itself, and the correlation between them is partly mechanical.
Are TRMB and XLK good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between TRMB and XLK?
As of 2026-08-27, the correlation of weekly returns between TRMB and XLK is 0.40 over 3 years, 0.16 over 1 year and 0.57 over 5 years.
Is XLK a good diversifier for TRMB?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 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/trmb-vs-xlk.json
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[](https://www.pairbook.io/pair/trmb-vs-xlk/)
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Related comparisons
Hubs: TRMB correlations · XLK correlations
