XYL vs ZWS: Correlation
Xylem Inc. (XYL) and Zurn Elkay Water Solutions Corporation (ZWS) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are XYL and ZWS?
On 3 years of weekly data the XYL/ZWS correlation comes out at 0.62, strong. Lately the two have drifted apart, with the 1-year correlation at 0.48 versus 0.62 over 3 years. The 5-year figure is 0.51, and annualized covariance runs at 413.9 %².
Among the 37 assets we track against XYL, ZWS ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ZWS outperformed by 26.4 percentage points (-21.1% for XYL against +5.3% for ZWS).
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.
XYL vs ZWS: side by side
| XYL (Xylem Inc.) | ZWS (Zurn Elkay Water Solutions Corporation) | |
|---|---|---|
| 1-year return | -21.1% | +5.3% |
| 5-year return | -12.5% | +71.6% |
| Volatility (ann.) | 23.9% | 27.7% |
| Beta vs S&P 500 | 0.96 | 0.89 |
| Max drawdown (3Y) | -30.0% | -30.2% |
| Market cap | $26.3B | $8.1B |
| P/E (trailing) | 26.8 | 30.5 |
| Dividend yield | 1.47% | 0.85% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | XYL | ZWS |
|---|---|---|
| 2022 | -6.6% | -41.5% |
| 2023 | +4.8% | +40.6% |
| 2024 | +2.6% | +28.1% |
| 2025 | +18.8% | +25.8% |
| 2026 | -16.7% | +5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are XYL and ZWS good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between XYL and ZWS?
The XYL/ZWS correlation stands at 0.62 on a 3-year window (1 year: 0.48, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is ZWS a good diversifier for XYL?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
A reading of 0.62 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/xyl-vs-zws.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/xyl-vs-zws/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: XYL correlations · ZWS correlations
