AZN vs XLV: Correlation
AstraZeneca PLC (AZN) and Health Care Select Sector SPDR Fund (XLV) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZN and XLV?
Across a 3-year window, the weekly returns of AZN and XLV correlate at 0.60, strong. Lately the two have moved closer together, with the 1-year correlation at 0.73 versus 0.60 over 3 years. Stretching to 5 years gives 0.57, with an annualized covariance of 221.6 %².
In AZN's tracked universe of 14 assets, XLV sits right near the top at #2. The last year tells two different stories: XLV led by 23.5 percentage points, +4.0% for AZN against +27.5% for XLV. Risk is not evenly split, since AZN carries 1.7 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.
AZN vs XLV: side by side
| AZN (AstraZeneca PLC) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +4.0% | +27.5% |
| 5-year return | +54.7% | +37.4% |
| Volatility (ann.) | 25.1% | 14.7% |
| Beta vs S&P 500 | 0.21 | 0.42 |
| Max drawdown (3Y) | -27.9% | -17.1% |
| Market cap | $255.2B | – |
| P/E (trailing) | 24.9 | – |
| Dividend yield | 1.94% | 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 | AZN | XLV |
|---|---|---|
| 2022 | +19.2% | -2.1% |
| 2023 | +1.4% | +2.1% |
| 2024 | -0.6% | +2.5% |
| 2025 | +43.3% | +14.5% |
| 2026 | -9.6% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZN and XLV good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AZN and XLV?
As of 2026-08-27, the correlation of weekly returns between AZN and XLV is 0.60 over 3 years, 0.73 over 1 year and 0.57 over 5 years.
Is XLV a good diversifier for AZN?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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/azn-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/azn-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AZN correlations · XLV correlations
