VRT vs XLI: Correlation
How closely do Vertiv (VRT) and Industrial Select Sector SPDR Fund (XLI) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VRT and XLI?
Across a 3-year window, the weekly returns of VRT and XLI correlate at 0.57, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.40 versus 0.57 over 3 years. Stretching to 5 years gives 0.50, with an annualized covariance of 516.2 %².
By 3-year correlation, XLI places #19 of the 36 assets tracked against VRT. Correlation aside, the last 12 months split them widely, with VRT ahead by 90.2 points (+108.5% versus +18.3%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.13 and 0.74 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: VRT runs 3.6 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.
VRT vs XLI: side by side
| VRT (Vertiv) | XLI (Industrial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +108.5% | +18.3% |
| 5-year return | +847.7% | +84.0% |
| Volatility (ann.) | 57.1% | 15.7% |
| Beta vs S&P 500 | 2.36 | 0.89 |
| Max drawdown (3Y) | -61.3% | -18.5% |
| Market cap | $103.7B | – |
| P/E (trailing) | 59.6 | – |
| Dividend yield | 0.07% | 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 | VRT | XLI |
|---|---|---|
| 2022 | -45.3% | -5.6% |
| 2023 | +251.8% | +18.1% |
| 2024 | +136.8% | +17.3% |
| 2025 | +42.8% | +19.3% |
| 2026 | +66.3% | +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 VRT at a 1.79% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are VRT and XLI good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between VRT and XLI?
As of 2026-08-27, the correlation of weekly returns between VRT and XLI is 0.57 over 3 years, 0.40 over 1 year and 0.50 over 5 years.
Is XLI a good diversifier for VRT?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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/vrt-vs-xli.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vrt-vs-xli/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VRT correlations · XLI correlations
