UNM vs XLF: Correlation
Measured on weekly returns over the past three years, Unum Group (UNM) and Financial Select Sector SPDR Fund (XLF) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UNM and XLF?
Over the past 3 years, UNM and XLF moved with a correlation of 0.56, which is moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.56 over 3. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 216.2 %².
In UNM's tracked universe of 12 assets, XLF sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months UNM outperformed by 26.9 percentage points (+36.2% for UNM against +9.3% for XLF).
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.
UNM vs XLF: side by side
| UNM (Unum Group) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +36.2% | +9.3% |
| 5-year return | +305.6% | +64.2% |
| Volatility (ann.) | 23.8% | 16.2% |
| Beta vs S&P 500 | 0.49 | 0.84 |
| Max drawdown (3Y) | -17.9% | -15.5% |
| Market cap | $14.6B | – |
| P/E (trailing) | 21.3 | – |
| Dividend yield | 2.06% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | US Listed | Sector ETF |
XLF is a Financial fund from State Street Investment Management: $57.9B under management, 77 holdings, a 0.08% expense ratio, a 1.42% trailing dividend yield.
Year-by-year returns
| Year | UNM | XLF |
|---|---|---|
| 2022 | +73.6% | -10.6% |
| 2023 | +13.7% | +12.0% |
| 2024 | +66.3% | +30.6% |
| 2025 | +8.6% | +14.9% |
| 2026 | +21.4% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UNM and XLF good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between UNM and XLF?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.54 over the last year and 0.57 over 5 years.
Is XLF a good diversifier for UNM?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
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.
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Related comparisons
Hubs: UNM correlations · XLF correlations
