CI vs XLV: Correlation
How closely do Cigna (CI) and Health Care Select Sector SPDR Fund (XLV) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CI and XLV?
On 3 years of weekly data the CI/XLV correlation comes out at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 194.7 %².
In CI's tracked universe of 30 assets, XLV sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months XLV outperformed by 32.9 percentage points (-5.4% for CI against +27.5% for XLV). On a rolling one-year basis the correlation drifted between 0.37 and 0.63, a moderate band. Risk is not evenly split, since CI carries 1.8 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.
CI vs XLV: side by side
| CI (Cigna) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -5.4% | +27.5% |
| 5-year return | +46.7% | +37.4% |
| Volatility (ann.) | 26.7% | 14.7% |
| Beta vs S&P 500 | 0.22 | 0.42 |
| Max drawdown (3Y) | -32.1% | -17.1% |
| Market cap | $73.4B | – |
| P/E (trailing) | 11.6 | – |
| Dividend yield | 2.19% | 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 | CI | XLV |
|---|---|---|
| 2022 | +46.7% | -2.1% |
| 2023 | -8.0% | +2.1% |
| 2024 | -6.3% | +2.5% |
| 2025 | +1.7% | +14.5% |
| 2026 | +2.0% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CI represents 1.19% of XLV's portfolio, so part of any move in XLV is CI itself, and the correlation between them is partly mechanical.
Are CI and XLV good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CI and XLV?
As of 2026-08-27, the correlation of weekly returns between CI and XLV is 0.50 over 3 years, 0.51 over 1 year and 0.53 over 5 years.
Is XLV a good diversifier for CI?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 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/ci-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ci-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CI correlations · XLV correlations
