FLYE vs XLV: Correlation
Fly-E Group, Inc. (FLYE) and Health Care Select Sector SPDR Fund (XLV) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLYE and XLV?
On 3 years of weekly data the FLYE/XLV correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.16 over 1 year against -0.18 over 3. The 5-year figure is n/a, and annualized covariance runs at -426.8 %².
By 3-year correlation, XLV places #12 of the 44 assets tracked against FLYE. Correlation aside, the last 12 months split them widely, with XLV ahead by 116.5 points (-89.0% versus +27.5%). Note the risk asymmetry: FLYE runs 10.4 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.
FLYE vs XLV: side by side
| FLYE (Fly-E Group, Inc.) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -89.0% | +27.5% |
| 5-year return | n/a | +37.4% |
| Volatility (ann.) | 153.0% | 14.7% |
| Beta vs S&P 500 | 1.73 | 0.42 |
| Max drawdown (3Y) | -99.8% | -17.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.56% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $41.7B |
| Sector / category | US Listed | 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 | FLYE | XLV |
|---|---|---|
| 2022 | – | -2.1% |
| 2023 | – | +2.1% |
| 2024 | – | +2.5% |
| 2025 | -92.1% | +14.5% |
| 2026 | -74.4% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLYE and XLV good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between FLYE and XLV?
As of 2026-08-27, the correlation of weekly returns between FLYE and XLV is -0.18 over 3 years, -0.16 over 1 year and n/a over 5 years.
Is XLV a good diversifier for FLYE?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/flye-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flye-vs-xlv/)
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Related comparisons
Hubs: FLYE correlations · XLV correlations
