A vs XLV: Correlation
How closely do Agilent Technologies (A) and Health Care Select Sector SPDR Fund (XLV) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are A and XLV?
Over the past 3 years, A and XLV moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 259.9 %².
Within A's tracked universe of 33 assets, XLV comes in at #14 by 3-year correlation. Over the last 12 months A came out ahead by 6.4 percentage points (+33.9% against +27.5%). The rolling one-year correlation moved between 0.41 and 0.76 over the past three years, a moderate range. Note the risk asymmetry: A runs 2.1 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.
A vs XLV: side by side
| A (Agilent Technologies) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +33.9% | +27.5% |
| 5-year return | -7.5% | +37.4% |
| Volatility (ann.) | 31.0% | 14.7% |
| Beta vs S&P 500 | 0.98 | 0.42 |
| Max drawdown (3Y) | -35.3% | -17.1% |
| Market cap | $44.5B | – |
| P/E (trailing) | 30.6 | – |
| Dividend yield | 0.00% | 1.56% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $41.7B |
| Sector / category | Health Care | Sector ETF |
On the fund side, XLV sits in the Health category at State Street Investment Management, with $41.7B under management, 61 holdings, a 0.08% expense ratio, a 1.56% trailing dividend yield.
Year-by-year returns
| Year | A | XLV |
|---|---|---|
| 2022 | -5.5% | -2.1% |
| 2023 | -6.4% | +2.1% |
| 2024 | -2.7% | +2.5% |
| 2025 | +1.9% | +14.5% |
| 2026 | +16.6% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A represents 0.7% of XLV's portfolio, so part of any move in XLV is A itself, and the correlation between them is partly mechanical.
Are A and XLV good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between A and XLV?
As of 2026-08-27, the correlation of weekly returns between A and XLV is 0.57 over 3 years, 0.53 over 1 year and 0.64 over 5 years.
Is XLV a good diversifier for A?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/a-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
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Related comparisons
Hubs: A correlations · XLV correlations
