USFD vs XLP: Correlation
Measured on weekly returns over the past three years, US Foods Holding Corp. (USFD) and Consumer Staples Select Sector SPDR Fund (XLP) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are USFD and XLP?
Over the past 3 years, USFD and XLP moved with a correlation of 0.51, which is moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.51 over 3. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 157.0 %².
Few assets follow USFD as closely as XLP, which ranks #2 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with USFD ahead by 30.5 points (+38.8% versus +8.3%). One caveat on sizing: USFD is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
USFD vs XLP: side by side
| USFD (US Foods Holding Corp.) | XLP (Consumer Staples Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +38.8% | +8.3% |
| 5-year return | +223.0% | +34.7% |
| Volatility (ann.) | 27.4% | 11.1% |
| Beta vs S&P 500 | 0.64 | 0.23 |
| Max drawdown (3Y) | -21.1% | -9.7% |
| Market cap | $23.3B | – |
| P/E (trailing) | 33.4 | – |
| Dividend yield | 0.00% | 2.58% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $14.6B |
| Sector / category | US Listed | 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 | USFD | XLP |
|---|---|---|
| 2022 | -2.3% | -0.8% |
| 2023 | +33.5% | -0.8% |
| 2024 | +48.6% | +12.2% |
| 2025 | +11.7% | +1.5% |
| 2026 | +43.1% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are USFD and XLP good diversifiers for each other?
Only partially. A correlation of 0.51 means USFD and XLP 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 USFD and XLP?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.60 over the last year and 0.56 over 5 years.
Is XLP a good diversifier for USFD?
Only partially. A correlation of 0.51 means USFD and XLP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/usfd-vs-xlp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/usfd-vs-xlp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: USFD correlations · XLP correlations
