COR vs XLV: Correlation
Measured on weekly returns over the past three years, Cencora (COR) and Health Care Select Sector SPDR Fund (XLV) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COR and XLV?
On 3 years of weekly data the COR/XLV correlation comes out at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.50, and annualized covariance runs at 129.5 %².
Within COR's tracked universe of 43 assets, XLV comes in at #9 by 3-year correlation. The last year tells two different stories: XLV led by 16.1 percentage points, +11.4% for COR against +27.5% for XLV. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.12 to 0.64.
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.
COR vs XLV: side by side
| COR (Cencora) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +11.4% | +27.5% |
| 5-year return | +188.6% | +37.4% |
| Volatility (ann.) | 21.9% | 14.7% |
| Beta vs S&P 500 | 0.08 | 0.42 |
| Max drawdown (3Y) | -32.4% | -17.1% |
| Market cap | $61.3B | – |
| P/E (trailing) | 24.3 | – |
| Dividend yield | 0.72% | 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 | COR | XLV |
|---|---|---|
| 2022 | +26.3% | -2.1% |
| 2023 | +25.3% | +2.1% |
| 2024 | +10.4% | +2.5% |
| 2025 | +51.5% | +14.5% |
| 2026 | -4.3% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
COR represents 1.02% of XLV's portfolio, so part of any move in XLV is COR itself, and the correlation between them is partly mechanical.
Are COR and XLV good diversifiers for each other?
Reasonably. At 0.40, COR and XLV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between COR and XLV?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.43 over the last year and 0.50 over 5 years.
Is XLV a good diversifier for COR?
Reasonably. At 0.40, COR and XLV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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
$ curl https://www.pairbook.io/api/v1/pairs/cor-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cor-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COR correlations · XLV correlations
