BTCS vs XLV: Correlation
How closely do BTCS Inc. (BTCS) and Health Care Select Sector SPDR Fund (XLV) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTCS and XLV?
On 3 years of weekly data the BTCS/XLV correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.08 versus -0.21 over 3 years. The 5-year figure is -0.08, and annualized covariance runs at -495.2 %².
Among the 20 assets we track against BTCS, XLV ranks #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XLV outperformed by 89.8 percentage points (-62.3% for BTCS against +27.5% for XLV). Note the risk asymmetry: BTCS runs 11.0 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.
BTCS vs XLV: side by side
| BTCS (BTCS Inc.) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -62.3% | +27.5% |
| 5-year return | -79.2% | +37.4% |
| Volatility (ann.) | 161.4% | 14.7% |
| Beta vs S&P 500 | 0.34 | 0.42 |
| Max drawdown (3Y) | -84.9% | -17.1% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| 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 | BTCS | XLV |
|---|---|---|
| 2022 | -79.6% | -2.1% |
| 2023 | +158.7% | +2.1% |
| 2024 | +51.5% | +2.5% |
| 2025 | +8.1% | +14.5% |
| 2026 | -39.8% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTCS and XLV good diversifiers for each other?
Yes. With a correlation of -0.21, BTCS and XLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTCS and XLV?
The BTCS/XLV correlation stands at -0.21 on a 3-year window (1 year: 0.08, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is XLV a good diversifier for BTCS?
Yes. With a correlation of -0.21, BTCS and XLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Hubs: BTCS correlations · XLV correlations
