DVA vs XLV: Correlation
DaVita (DVA) and Health Care Select Sector SPDR Fund (XLV) show a weak relationship: their 3-year correlation of weekly returns is 0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DVA and XLV?
Across a 3-year window, the weekly returns of DVA and XLV correlate at 0.16, weak. The past 12 months show a weaker link (0.02) than the 3-year average (0.16). Stretching to 5 years gives 0.15, with an annualized covariance of 97.1 %².
By 3-year correlation, XLV places #22 of the 38 assets tracked against DVA. Neither side won the trailing year by much: +30.0% against +27.5%. Across three years, the rolling one-year figure varied moderately, from -0.06 to 0.42. Note the risk asymmetry: DVA runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DVA vs XLV: side by side
| DVA (DaVita) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +30.0% | +27.5% |
| 5-year return | +36.4% | +37.4% |
| Volatility (ann.) | 40.9% | 14.7% |
| Beta vs S&P 500 | 0.38 | 0.42 |
| Max drawdown (3Y) | -41.4% | -17.1% |
| Market cap | $11.4B | – |
| P/E (trailing) | 15.3 | – |
| 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 | DVA | XLV |
|---|---|---|
| 2022 | -34.4% | -2.1% |
| 2023 | +40.3% | +2.1% |
| 2024 | +42.8% | +2.5% |
| 2025 | -24.0% | +14.5% |
| 2026 | +57.5% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.09% of XLV is DVA itself, so the fund partly moves with the stock by construction.
Are DVA and XLV good diversifiers for each other?
Yes. With a correlation of 0.16, DVA and XLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DVA and XLV?
The DVA/XLV correlation stands at 0.16 on a 3-year window (1 year: 0.02, 5 years: 0.15), computed from weekly returns as of 2026-08-27.
Is XLV a good diversifier for DVA?
Yes. With a correlation of 0.16, DVA and XLV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of 0.16 mean?
On the −1 to +1 scale, 0.16 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/dva-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dva-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DVA correlations · XLV correlations
