XLI vs MRSH
- 5 of 19 forces clearly differ
- Data through Oct 30, 2026
- Market move removed first
XLI and MRSH clearly differ on 5 of 19 forces. The widest gap is momentum: in weeks when recent winners beat the stock market by 1 percentage point, XLI typically moved +0.08% and MRSH −0.58%.
| Economic force | XLIIndustrial Select Sector SPDR Fund | MRSHMarsh McLennan |
|---|---|---|
| Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points | −0.37%−1.0% to +0.24%Not distinguishable from zero | −0.65%−2.2% to +0.90%Not distinguishable from zero |
| Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points | +1.9%+0.70% to +3.1%Clear | +2.0%−0.67% to +4.7%Not distinguishable from zero |
| U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2% | −0.20%−0.74% to +0.35%Not distinguishable from zero | +0.15%−0.91% to +1.2%Not distinguishable from zero |
| Oil and energyIn weeks when the price of oil rose 10% | −0.41%−0.73% to −0.08%Tentative | −0.64%−1.3% to −0.03%Tentative |
| Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points | +0.05%−1.1% to +1.2%Not distinguishable from zero | +0.51%−1.4% to +2.4%Not distinguishable from zero |
| Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points | +0.15%−0.62% to +0.92%Not distinguishable from zero | +1.0%−0.78% to +2.7%Not distinguishable from zero |
| Market volatilityIn weeks when market volatility (the VIX) rose 5 points | −0.33%−0.66% to −0.01%Tentative | −0.05%−0.86% to +0.76%Not distinguishable from zero |
| Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points | −0.25%−0.72% to +0.22%Not distinguishable from zero | −0.18%−1.1% to +0.73%Not distinguishable from zero |
| GoldIn weeks when the price of gold rose 5% | −0.01%−0.29% to +0.27%Not distinguishable from zero | −0.31%−1.0% to +0.39%Not distinguishable from zero |
| CopperIn weeks when the price of copper rose 5% | −0.05%−0.29% to +0.19%Not distinguishable from zero | +0.42%−0.08% to +0.92%Not distinguishable from zero |
| Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10%Clear difference | −0.02%−0.03% to −0.01%Tentative | +0.01%0.00% to +0.03%Not distinguishable from zero |
| BitcoinIn weeks when the price of bitcoin rose 10% | −0.23%−0.62% to +0.16%Not distinguishable from zero | −0.33%−0.79% to +0.13%Not distinguishable from zero |
| Small vs large companiesIn weeks when small companies beat large ones by 1 percentage pointClear difference | +0.37%+0.28% to +0.46%Clear | −0.13%−0.34% to +0.07%Not distinguishable from zero |
| Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage point | +0.47%+0.39% to +0.56%Clear | +0.47%+0.22% to +0.72%Clear |
| MomentumIn weeks when recent winners beat the stock market by 1 percentage pointClear difference | +0.08%−0.03% to +0.19%Not distinguishable from zero | −0.58%−0.87% to −0.30%Clear |
| EuroIn weeks when the euro rose 2% against the U.S. dollar | −0.71%−1.8% to +0.38%Not distinguishable from zero | +0.41%−1.0% to +1.8%Not distinguishable from zero |
| Japanese yenIn weeks when the yen rose 2% against the U.S. dollar | 0.00%−0.38% to +0.37%Not distinguishable from zero | +0.04%−0.71% to +0.79%Not distinguishable from zero |
| Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage pointClear difference | +0.01%−0.11% to +0.12%Not distinguishable from zero | −0.64%−0.87% to −0.42%Clear |
| ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage pointClear difference | −0.03%−0.09% to +0.04%Not distinguishable from zero | +0.28%+0.11% to +0.44%Tentative |
Each figure is the stock's typical move in a week when the force moved by the stated amount, after accounting for the stock market, with its 90% range beneath. Grey figures could not be told apart from zero. A row is marked a clear difference only when the two 90% ranges do not overlap.
This describes the past, and it is not a forecast. Relationships change, and nothing here is a recommendation to buy, sell or hold any security.