UBER vs XLI: Correlation
Uber (UBER) and Industrial Select Sector SPDR Fund (XLI) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UBER and XLI?
On 3 years of weekly data the UBER/XLI correlation comes out at 0.45, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.45 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 262.1 %².
By 3-year correlation, XLI places #18 of the 34 assets tracked against UBER. Correlation aside, the last 12 months split them widely, with XLI ahead by 37.6 points (-19.3% versus +18.3%). The rolling one-year correlation moved between 0.21 and 0.69 over the past three years, a moderate range. Risk is not evenly split, since UBER carries 2.3 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.
UBER vs XLI: side by side
| UBER (Uber) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -19.3% | +18.3% |
| 5-year return | +94.4% | +84.0% |
| Volatility (ann.) | 36.7% | 15.7% |
| Beta vs S&P 500 | 1.34 | 0.89 |
| Max drawdown (3Y) | -34.1% | -18.5% |
| Market cap | $157.2B | – |
| P/E (trailing) | 17.2 | – |
| Dividend yield | 0.00% | 1.15% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $32.9B |
| Sector / category | Industrials | 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 | UBER | XLI |
|---|---|---|
| 2022 | -41.0% | -5.6% |
| 2023 | +149.0% | +18.1% |
| 2024 | -2.0% | +17.3% |
| 2025 | +35.5% | +19.3% |
| 2026 | -5.8% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLI holds UBER at a 2.82% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are UBER and XLI good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between UBER and XLI?
The UBER/XLI correlation stands at 0.45 on a 3-year window (1 year: 0.15, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is XLI a good diversifier for UBER?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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/uber-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/uber-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: UBER correlations · XLI correlations
