BMRN vs XLV: Correlation
How closely do BioMarin Pharmaceutical Inc. (BMRN) and Health Care Select Sector SPDR Fund (XLV) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMRN and XLV?
On 3 years of weekly data the BMRN/XLV correlation comes out at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 177.4 %².
Few assets follow BMRN as closely as XLV, which ranks #2 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with XLV ahead by 16.2 points (+11.3% versus +27.5%). Risk is not evenly split, since BMRN carries 1.9 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.
BMRN vs XLV: side by side
| BMRN (BioMarin Pharmaceutical Inc.) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +11.3% | +27.5% |
| 5-year return | -21.6% | +37.4% |
| Volatility (ann.) | 28.1% | 14.7% |
| Beta vs S&P 500 | 0.46 | 0.42 |
| Max drawdown (3Y) | -49.8% | -17.1% |
| Market cap | $12.6B | – |
| P/E (trailing) | 176.5 | – |
| 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 | BMRN | XLV |
|---|---|---|
| 2022 | +17.1% | -2.1% |
| 2023 | -6.8% | +2.1% |
| 2024 | -31.8% | +2.5% |
| 2025 | -9.6% | +14.5% |
| 2026 | +9.9% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMRN and XLV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BMRN and XLV?
As of 2026-08-27, the correlation of weekly returns between BMRN and XLV is 0.43 over 3 years, 0.45 over 1 year and 0.45 over 5 years.
Is XLV a good diversifier for BMRN?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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/bmrn-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bmrn-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BMRN correlations · XLV correlations
