WRB vs XLF: Correlation
W. R. Berkley Corporation (WRB) and Financial Select Sector SPDR Fund (XLF) 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 WRB and XLF?
Over the past 3 years, WRB and XLF moved with a correlation of 0.41, which is moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.41). Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 147.4 %².
Within WRB's tracked universe of 34 assets, XLF comes in at #17 by 3-year correlation. The trailing year gives XLF the advantage: -2.0% versus +9.3%, a 11.3-point spread. The rolling one-year correlation moved between 0.21 and 0.59 over the past three years, a moderate range.
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.
WRB vs XLF: side by side
| WRB (W. R. Berkley Corporation) | XLF (Financial Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -2.0% | +9.3% |
| 5-year return | +130.5% | +64.2% |
| Volatility (ann.) | 22.5% | 16.2% |
| Beta vs S&P 500 | 0.19 | 0.84 |
| Max drawdown (3Y) | -17.6% | -15.5% |
| Market cap | $25.4B | – |
| P/E (trailing) | 14.1 | – |
| Dividend yield | 0.54% | 1.42% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $57.9B |
| Sector / category | Financials | Sector ETF |
XLF is a Financial fund from State Street Investment Management: $57.9B under management, 77 holdings, a 0.08% expense ratio, a 1.42% trailing dividend yield.
Year-by-year returns
| Year | WRB | XLF |
|---|---|---|
| 2022 | +33.9% | -10.6% |
| 2023 | +0.2% | +12.0% |
| 2024 | +27.2% | +30.6% |
| 2025 | +23.0% | +14.9% |
| 2026 | -1.5% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.25% of XLF is WRB itself, so the fund partly moves with the stock by construction.
Are WRB and XLF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between WRB and XLF?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.21 over the last year and 0.45 over 5 years.
Is XLF a good diversifier for WRB?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 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.
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Related comparisons
Hubs: WRB correlations · XLF correlations
