WIT vs XLY: Correlation
Wipro Limited (WIT) and Consumer Discretionary Select Sector SPDR Fund (XLY) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WIT and XLY?
On 3 years of weekly data the WIT/XLY correlation comes out at 0.41, moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.41). The 5-year figure is 0.45, and annualized covariance runs at 262.7 %².
By 3-year correlation, XLY places #5 of the 10 assets tracked against WIT. The last year tells two different stories: XLY led by 35.1 percentage points, -35.2% for WIT against -0.1% for XLY. Note the risk asymmetry: WIT runs 1.7 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.
WIT vs XLY: side by side
| WIT (Wipro Limited) | XLY (Consumer Discretionary Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -35.2% | -0.1% |
| 5-year return | -58.2% | +31.8% |
| Volatility (ann.) | 32.7% | 19.7% |
| Beta vs S&P 500 | 0.88 | 1.15 |
| Max drawdown (3Y) | -51.2% | -26.0% |
| Market cap | $17.8B | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 437.16% | 0.78% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $22.5B |
| Sector / category | US Listed | Sector ETF |
XLY is a Consumer Cyclical fund from State Street Investment Management: $22.5B under management, 47 holdings, a 0.08% expense ratio, a 0.78% trailing dividend yield.
Year-by-year returns
| Year | WIT | XLY |
|---|---|---|
| 2022 | -51.8% | -36.3% |
| 2023 | +19.8% | +39.6% |
| 2024 | +27.4% | +26.5% |
| 2025 | -16.6% | +7.4% |
| 2026 | -35.9% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WIT and XLY good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between WIT and XLY?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.28 over the last year and 0.45 over 5 years.
Is XLY a good diversifier for WIT?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/wit-vs-xly.json
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Related comparisons
Hubs: WIT correlations · XLY correlations
