BTCT vs XLV: Correlation
Measured on weekly returns over the past three years, BTC Digital Ltd. (BTCT) and Health Care Select Sector SPDR Fund (XLV) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTCT and XLV?
Across a 3-year window, the weekly returns of BTCT and XLV correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.08) than the 3-year average (-0.20). Stretching to 5 years gives -0.12, with an annualized covariance of -1670.9 %².
Within BTCT's tracked universe of 52 assets, XLV comes in at #23 by 3-year correlation. The last year tells two different stories: XLV led by 47.7 percentage points, -20.2% for BTCT against +27.5% for XLV. Risk is not evenly split, since BTCT carries 38.9 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.
BTCT vs XLV: side by side
| BTCT (BTC Digital Ltd.) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -20.2% | +27.5% |
| 5-year return | -99.5% | +37.4% |
| Volatility (ann.) | 571.6% | 14.7% |
| Beta vs S&P 500 | -2.21 | 0.42 |
| Max drawdown (3Y) | -97.8% | -17.1% |
| Market cap | – | – |
| 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 | BTCT | XLV |
|---|---|---|
| 2022 | -97.6% | -2.1% |
| 2023 | +33.9% | +2.1% |
| 2024 | -0.8% | +2.5% |
| 2025 | -72.8% | +14.5% |
| 2026 | +61.5% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTCT and XLV good diversifiers for each other?
Yes. With a correlation of -0.20, BTCT and XLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTCT and XLV?
As of 2026-08-27, the correlation of weekly returns between BTCT and XLV is -0.20 over 3 years, 0.08 over 1 year and -0.12 over 5 years.
Is XLV a good diversifier for BTCT?
Yes. With a correlation of -0.20, BTCT and XLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/btct-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btct-vs-xlv/)
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Related comparisons
Hubs: BTCT correlations · XLV correlations
