BMY vs XLV: Correlation
Bristol Myers Squibb (BMY) and Health Care Select Sector SPDR Fund (XLV) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMY and XLV?
Across a 3-year window, the weekly returns of BMY and XLV correlate at 0.47, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.47 over 3. Stretching to 5 years gives 0.49, with an annualized covariance of 190.9 %².
In BMY's tracked universe of 31 assets, XLV sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months BMY outperformed by 19.8 percentage points (+47.3% for BMY against +27.5% for XLV). On a rolling one-year basis the correlation drifted between 0.22 and 0.67, a moderate band. Note the risk asymmetry: BMY runs 1.9 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.
BMY vs XLV: side by side
| BMY (Bristol Myers Squibb) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +47.3% | +27.5% |
| 5-year return | +22.3% | +37.4% |
| Volatility (ann.) | 27.8% | 14.7% |
| Beta vs S&P 500 | 0.20 | 0.42 |
| Max drawdown (3Y) | -34.1% | -17.1% |
| Market cap | $136.8B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 3.71% | 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 | BMY | XLV |
|---|---|---|
| 2022 | +19.0% | -2.1% |
| 2023 | -26.1% | +2.1% |
| 2024 | +15.8% | +2.5% |
| 2025 | +0.1% | +14.5% |
| 2026 | +28.3% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 2.2% of XLV is BMY itself, so the fund partly moves with the stock by construction.
Are BMY and XLV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BMY and XLV?
As of 2026-08-27, the correlation of weekly returns between BMY and XLV is 0.47 over 3 years, 0.51 over 1 year and 0.49 over 5 years.
Is XLV a good diversifier for BMY?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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/bmy-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bmy-vs-xlv/)
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Related comparisons
Hubs: BMY correlations · XLV correlations
