AREN vs XLV: Correlation
How closely do The Arena Group Holdings, Inc. (AREN) and Health Care Select Sector SPDR Fund (XLV) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AREN and XLV?
On 3 years of weekly data the AREN/XLV correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. The 5-year figure is -0.12, and annualized covariance runs at -456.3 %².
By 3-year correlation, XLV places #16 of the 22 assets tracked against AREN. Correlation aside, the last 12 months split them widely, with XLV ahead by 112.3 points (-84.8% versus +27.5%). Risk is not evenly split, since AREN carries 10.7 times the volatility of the other side.
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.
AREN vs XLV: side by side
| AREN (The Arena Group Holdings, Inc.) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -84.8% | +27.5% |
| 5-year return | -93.0% | +37.4% |
| Volatility (ann.) | 157.6% | 14.7% |
| Beta vs S&P 500 | 0.49 | 0.42 |
| Max drawdown (3Y) | -91.7% | -17.1% |
| Market cap | – | – |
| P/E (trailing) | 4.9 | – |
| Dividend yield | 0.00% | 1.56% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $41.7B |
| Sector / category | US Listed | 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 | AREN | XLV |
|---|---|---|
| 2022 | -24.6% | -2.1% |
| 2023 | -77.6% | +2.1% |
| 2024 | -43.7% | +2.5% |
| 2025 | +198.5% | +14.5% |
| 2026 | -76.5% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AREN and XLV good diversifiers for each other?
Yes. With a correlation of -0.20, AREN and XLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AREN and XLV?
As of 2026-08-27, the correlation of weekly returns between AREN and XLV is -0.20 over 3 years, -0.28 over 1 year and -0.12 over 5 years.
Is XLV a good diversifier for AREN?
Yes. With a correlation of -0.20, AREN and XLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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/aren-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aren-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AREN correlations · XLV correlations
