DXCM vs XLV: Correlation
Dexcom (DXCM) and Health Care Select Sector SPDR Fund (XLV) show a weak relationship: their 3-year correlation of weekly returns is 0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXCM and XLV?
Over the past 3 years, DXCM and XLV moved with a correlation of 0.17, which is weak. Little has changed lately, as the 1-year reading of 0.25 lands near the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 120.2 %².
Among the 28 assets we track against DXCM, XLV ranks #18 by 3-year correlation. Over the last 12 months XLV came out ahead by 10.6 percentage points (+16.9% against +27.5%). This link changes with the market regime, having swung between -0.11 and 0.49 on a rolling one-year basis. One caveat on sizing: DXCM is 3.2 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.
DXCM vs XLV: side by side
| DXCM (Dexcom) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +16.9% | +27.5% |
| 5-year return | -31.5% | +37.4% |
| Volatility (ann.) | 46.7% | 14.7% |
| Beta vs S&P 500 | 1.02 | 0.42 |
| Max drawdown (3Y) | -61.0% | -17.1% |
| Market cap | $33.7B | – |
| P/E (trailing) | 35.2 | – |
| 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 | DXCM | XLV |
|---|---|---|
| 2022 | -15.6% | -2.1% |
| 2023 | +9.6% | +2.1% |
| 2024 | -37.3% | +2.5% |
| 2025 | -14.7% | +14.5% |
| 2026 | +34.5% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.55% of XLV is DXCM itself, so the fund partly moves with the stock by construction.
Are DXCM and XLV good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between DXCM and XLV?
As of 2026-08-27, the correlation of weekly returns between DXCM and XLV is 0.17 over 3 years, 0.25 over 1 year and 0.34 over 5 years.
Is XLV a good diversifier for DXCM?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 mean?
A reading of 0.17 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/dxcm-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dxcm-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DXCM correlations · XLV correlations
