TSN vs XLP: Correlation
Measured on weekly returns over the past three years, Tyson Foods (TSN) and Consumer Staples Select Sector SPDR Fund (XLP) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TSN and XLP?
Over the past 3 years, TSN and XLP moved with a correlation of 0.50, which is moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 127.5 %².
XLP is one of the assets that tracks TSN most closely: it ranks #1 out of the 31 assets we track against TSN. Over the last 12 months XLP came out ahead by 8.6 percentage points (-0.3% against +8.3%). Across three years, the rolling one-year figure varied moderately, from 0.19 to 0.67. Note the risk asymmetry: TSN runs 2.1 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.
TSN vs XLP: side by side
| TSN (Tyson Foods) | XLP (Consumer Staples Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -0.3% | +8.3% |
| 5-year return | -17.3% | +34.7% |
| Volatility (ann.) | 22.8% | 11.1% |
| Beta vs S&P 500 | 0.19 | 0.23 |
| Max drawdown (3Y) | -20.3% | -9.7% |
| Market cap | $19.5B | – |
| P/E (trailing) | 35.0 | – |
| Dividend yield | 0.88% | 2.58% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $14.6B |
| Sector / category | Consumer Staples | Sector ETF |
On the fund side, XLP sits in the Consumer Defensive category at State Street Investment Management, with $14.6B under management, 35 holdings, a 0.08% expense ratio, a 2.58% trailing dividend yield.
Year-by-year returns
| Year | TSN | XLP |
|---|---|---|
| 2022 | -26.9% | -0.8% |
| 2023 | -10.4% | -0.8% |
| 2024 | +10.5% | +12.2% |
| 2025 | +5.7% | +1.5% |
| 2026 | -4.0% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLP holds TSN at a 1.0% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are TSN and XLP good diversifiers for each other?
To a limited degree. At 0.50 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 TSN and XLP?
As of 2026-08-27, the correlation of weekly returns between TSN and XLP is 0.50 over 3 years, 0.47 over 1 year and 0.46 over 5 years.
Is XLP a good diversifier for TSN?
To a limited degree. At 0.50 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 0.50 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/tsn-vs-xlp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tsn-vs-xlp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TSN correlations · XLP correlations
