GILD vs XLP: Correlation
Measured on weekly returns over the past three years, Gilead Sciences (GILD) and Consumer Staples Select Sector SPDR Fund (XLP) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GILD and XLP?
Over the past 3 years, GILD and XLP moved with a correlation of 0.42, which is moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 113.3 %².
Among the 30 assets we track against GILD, XLP ranks #7 by 3-year correlation. The last year tells two different stories: GILD led by 25.8 percentage points, +34.1% for GILD against +8.3% for XLP. On a rolling one-year basis the correlation drifted between 0.23 and 0.66, a moderate band. One caveat on sizing: GILD is 2.2 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.
GILD vs XLP: side by side
| GILD (Gilead Sciences) | XLP (Consumer Staples Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +34.1% | +8.3% |
| 5-year return | +148.1% | +34.7% |
| Volatility (ann.) | 24.1% | 11.1% |
| Beta vs S&P 500 | 0.33 | 0.23 |
| Max drawdown (3Y) | -26.6% | -9.7% |
| Market cap | $184.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.17% | 2.58% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $14.6B |
| Sector / category | Health Care | 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 | GILD | XLP |
|---|---|---|
| 2022 | +23.6% | -0.8% |
| 2023 | -2.0% | -0.8% |
| 2024 | +18.7% | +12.2% |
| 2025 | +36.6% | +1.5% |
| 2026 | +22.8% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GILD and XLP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GILD and XLP?
The GILD/XLP correlation stands at 0.42 on a 3-year window (1 year: 0.43, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is XLP a good diversifier for GILD?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Hubs: GILD correlations · XLP correlations
