COO vs XLV: Correlation
How closely do Cooper Companies (The) (COO) and Health Care Select Sector SPDR Fund (XLV) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COO and XLV?
Across a 3-year window, the weekly returns of COO and XLV correlate at 0.58, moderate. Recent behaviour matches the longer record: 0.66 over 1 year against 0.58 over 3. Stretching to 5 years gives 0.58, with an annualized covariance of 238.3 %².
By 3-year correlation, XLV places #4 of the 38 assets tracked against COO. The last year tells two different stories: XLV led by 31.8 percentage points, -4.3% for COO against +27.5% for XLV. Across three years, the rolling one-year figure varied moderately, from 0.40 to 0.68. Risk is not evenly split, since COO 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.
COO vs XLV: side by side
| COO (Cooper Companies (The)) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -4.3% | +27.5% |
| 5-year return | -36.8% | +37.4% |
| Volatility (ann.) | 27.7% | 14.7% |
| Beta vs S&P 500 | 0.69 | 0.42 |
| Max drawdown (3Y) | -47.0% | -17.1% |
| Market cap | – | – |
| P/E (trailing) | 61.7 | – |
| Dividend yield | 0.00% | 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 | COO | XLV |
|---|---|---|
| 2022 | -21.1% | -2.1% |
| 2023 | +14.5% | +2.1% |
| 2024 | -2.8% | +2.5% |
| 2025 | -10.8% | +14.5% |
| 2026 | -13.4% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLV holds COO at a 0.23% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are COO and XLV good diversifiers for each other?
Only partially. A correlation of 0.58 means COO and XLV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between COO and XLV?
The COO/XLV correlation stands at 0.58 on a 3-year window (1 year: 0.66, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is XLV a good diversifier for COO?
Only partially. A correlation of 0.58 means COO and XLV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 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/coo-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/coo-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COO correlations · XLV correlations
