CARR vs. XLI
CARR (Carrier Global Corporation) is a stock, while XLI (Industrial Select Sector SPDR Fund) is Industrials Equities fund tracking the Industrial Select Sector Index. Over the past 5 years, CARR returned 8.48%/yr vs 13.64%/yr for XLI. A 0.70 correlation means they provide meaningful diversification when combined.
Performance
CARR vs. XLI - Performance Comparison
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Returns By Period
In the year-to-date period, CARR achieves a 30.87% return, which is significantly higher than XLI's 16.89% return.
CARR
- 1D
- -1.05%
- 1M
- -1.86%
- 6M
- 24.86%
- YTD
- 30.87%
- 1Y
- -9.14%
- 3Y*
- 9.88%
- 5Y*
- 8.48%
- 10Y*
- —
XLI
- 1D
- -0.85%
- 1M
- 2.63%
- 6M
- 11.12%
- YTD
- 16.89%
- 1Y
- 21.63%
- 3Y*
- 20.14%
- 5Y*
- 13.64%
- 10Y*
- 13.82%
CARR vs. XLI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CARR Carrier Global Corporation | 30.87% | -21.57% | 20.26% | 41.47% | -22.68% | 45.31% | 176.86% |
XLI Industrial Select Sector SPDR Fund | 16.89% | 19.35% | 17.31% | 18.13% | -5.57% | 21.08% | 57.02% |
Correlation
The correlation between CARR and XLI is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2020 | 0.70 |
The correlation between CARR and XLI has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.
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Return for Risk
CARR vs. XLI — Risk / Return Rank
CARR
XLI
CARR vs. XLI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Carrier Global Corporation (CARR) and Industrial Select Sector SPDR Fund (XLI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CARR | XLI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.23 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 1.78 | -2.02 |
| Martin ratioReturn relative to average drawdown | -0.38 | 6.96 | -7.34 |
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Drawdowns
CARR vs. XLI - Drawdown Comparison
The maximum CARR drawdown since its inception was -40.82%, smaller than the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for CARR and XLI.
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Drawdown Indicators
| CARR | XLI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.82% | -62.26% | +21.44% |
Max Drawdown (1Y)Largest decline over 1 year | -37.38% | -12.21% | -25.17% |
Max Drawdown (3Y)Largest decline over 3 years | -37.91% | -18.49% | -19.42% |
Max Drawdown (5Y)Largest decline over 5 years | -40.82% | -21.64% | -19.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.33% | — |
Current DrawdownCurrent decline from peak | -14.75% | -2.80% | -11.95% |
Average DrawdownAverage peak-to-trough decline | -14.18% | -9.18% | -5.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.29% | 3.12% | +21.17% |
Volatility
CARR vs. XLI - Volatility Comparison
Carrier Global Corporation (CARR) has a higher volatility of 10.17% compared to Industrial Select Sector SPDR Fund (XLI) at 6.00%. This indicates that CARR's price experiences larger fluctuations and is considered to be riskier than XLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CARR | XLI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.17% | 6.00% | +4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 28.78% | 13.85% | +14.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.34% | 16.71% | +19.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.10% | 17.60% | +14.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.83% | 20.01% | +14.82% |
Dividends
CARR vs. XLI - Dividend Comparison
CARR's dividend yield for the trailing twelve months is around 1.36%, more than XLI's 1.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CARR Carrier Global Corporation | 1.36% | 1.70% | 1.16% | 1.30% | 1.54% | 0.94% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLI Industrial Select Sector SPDR Fund | 1.14% | 1.29% | 1.44% | 1.63% | 1.63% | 1.25% | 1.55% | 1.94% | 2.15% | 1.77% | 2.07% | 2.15% |
Frequently Asked Questions
CARR and XLI have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARR has higher volatility (10.17%) compared to XLI (6.00%). In terms of maximum drawdown, CARR dropped -40.82% vs XLI's -62.26%.
XLI currently has the higher Sharpe Ratio (1.30 vs -0.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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