CRVO vs XLP: Correlation
How closely do CervoMed Inc. (CRVO) and Consumer Staples Select Sector SPDR Fund (XLP) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRVO and XLP?
On 3 years of weekly data the CRVO/XLP correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. The 5-year figure is -0.13, and annualized covariance runs at -394.3 %².
Among the 17 assets we track against CRVO, XLP ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XLP outperformed by 80.2 percentage points (-71.9% for CRVO against +8.3% for XLP). One caveat on sizing: CRVO is 16.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CRVO vs XLP: side by side
| CRVO (CervoMed Inc.) | XLP (Consumer Staples Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -71.9% | +8.3% |
| 5-year return | -94.2% | +34.7% |
| Volatility (ann.) | 178.5% | 11.1% |
| Beta vs S&P 500 | 0.33 | 0.23 |
| Max drawdown (3Y) | -92.7% | -9.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.58% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $14.6B |
| Sector / category | US Listed | Sector ETF |
On the fund side, XLP sits in the Consumer Defensive category at State Street Investment Management, with $14.6B under management, 35 holdings, a 0.08% expense ratio, a 2.58% trailing dividend yield.
Year-by-year returns
| Year | CRVO | XLP |
|---|---|---|
| 2022 | -67.4% | -0.8% |
| 2023 | +0.5% | -0.8% |
| 2024 | -69.3% | +12.2% |
| 2025 | +237.6% | +1.5% |
| 2026 | -66.6% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRVO and XLP good diversifiers for each other?
Yes. With a correlation of -0.20, CRVO and XLP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRVO and XLP?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.28 over the last year and -0.13 over 5 years.
Is XLP a good diversifier for CRVO?
Yes. With a correlation of -0.20, CRVO and XLP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/crvo-vs-xlp.json
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[](https://www.pairbook.io/pair/crvo-vs-xlp/)
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Related comparisons
Hubs: CRVO correlations · XLP correlations
