VST vs XLU: Correlation
Measured on weekly returns over the past three years, Vistra Corp. (VST) and Utilities Select Sector SPDR Fund (XLU) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VST and XLU?
Over the past 3 years, VST and XLU moved with a correlation of 0.53, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.67 versus 0.53 over 3 years. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 438.4 %².
Within VST's tracked universe of 32 assets, XLU comes in at #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XLU ahead by 31.9 points (-27.8% versus +4.1%). This link changes with the market regime, having swung between 0.14 and 0.66 on a rolling one-year basis. Note the risk asymmetry: VST runs 3.3 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.
VST vs XLU: side by side
| VST (Vistra Corp.) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -27.8% | +4.1% |
| 5-year return | +713.7% | +46.3% |
| Volatility (ann.) | 52.8% | 15.8% |
| Beta vs S&P 500 | 1.62 | 0.26 |
| Max drawdown (3Y) | -48.8% | -13.1% |
| Market cap | $46.9B | – |
| P/E (trailing) | 23.6 | – |
| Dividend yield | 0.65% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | Utilities | Sector ETF |
XLU is an Utilities fund from State Street Investment Management: $23.1B under management, 31 holdings, a 0.08% expense ratio, a 2.70% trailing dividend yield.
Year-by-year returns
| Year | VST | XLU |
|---|---|---|
| 2022 | +5.1% | +1.4% |
| 2023 | +70.7% | -7.2% |
| 2024 | +261.5% | +23.3% |
| 2025 | +17.7% | +16.0% |
| 2026 | -13.1% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLU holds VST at a 3.27% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are VST and XLU good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between VST and XLU?
The VST/XLU correlation stands at 0.53 on a 3-year window (1 year: 0.67, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is XLU a good diversifier for VST?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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/vst-vs-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vst-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VST correlations · XLU correlations
