UZX vs XLE: Correlation
How closely do Linkage Global Inc - Class A (UZX) and Energy Select Sector SPDR Fund (XLE) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UZX and XLE?
Over the past 3 years, UZX and XLE moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.21 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -664.5 %².
By 3-year correlation, XLE places #24 of the 49 assets tracked against UZX. Their recent paths diverged sharply: over the last 12 months XLE outperformed by 138.6 percentage points (-94.6% for UZX against +44.0% for XLE). Risk is not evenly split, since UZX carries 6.0 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.
UZX vs XLE: side by side
| UZX (Linkage Global Inc - Class A) | XLE (Energy Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -94.6% | +44.0% |
| 5-year return | n/a | +206.7% |
| Volatility (ann.) | 137.7% | 23.1% |
| Beta vs S&P 500 | 0.09 | 0.27 |
| Max drawdown (3Y) | -99.8% | -20.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.55% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $39.2B |
| Sector / category | US Listed | Sector ETF |
XLE is an Equity Energy fund from State Street Investment Management: $39.2B under management, 22 holdings, a 0.08% expense ratio, a 2.55% trailing dividend yield.
Year-by-year returns
| Year | UZX | XLE |
|---|---|---|
| 2022 | – | +64.3% |
| 2023 | – | -0.6% |
| 2024 | -71.7% | +5.6% |
| 2025 | -58.8% | +7.9% |
| 2026 | -93.3% | +41.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UZX and XLE good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between UZX and XLE?
As of 2026-08-27, the correlation of weekly returns between UZX and XLE is -0.21 over 3 years, -0.39 over 1 year and n/a over 5 years.
Is XLE a good diversifier for UZX?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/uzx-vs-xle.json
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Hubs: UZX correlations · XLE correlations
