GRX vs XLV: Correlation
Measured on weekly returns over the past three years, The Gabelli Healthcare & Wellness Trust (GRX) and Health Care Select Sector SPDR Fund (XLV) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and XLV?
Across a 3-year window, the weekly returns of GRX and XLV correlate at 0.75, strong. Recent behaviour matches the longer record: 0.78 over 1 year against 0.75 over 3. Stretching to 5 years gives 0.77, with an annualized covariance of 167.0 %².
In GRX's tracked universe of 26 assets, XLV sits right near the top at #2. On 12-month performance XLV holds a 13.2-point edge, +14.3% against +27.5%.
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.
GRX vs XLV: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +14.3% | +27.5% |
| 5-year return | +1.5% | +37.4% |
| Volatility (ann.) | 15.1% | 14.7% |
| Beta vs S&P 500 | 0.46 | 0.42 |
| Max drawdown (3Y) | -17.9% | -17.1% |
| Market cap | – | – |
| P/E (trailing) | 67.0 | – |
| 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 | GRX | XLV |
|---|---|---|
| 2022 | -20.0% | -2.1% |
| 2023 | -3.3% | +2.1% |
| 2024 | +9.6% | +2.5% |
| 2025 | +7.0% | +14.5% |
| 2026 | +8.3% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and XLV good diversifiers for each other?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GRX and XLV?
As of 2026-08-27, the correlation of weekly returns between GRX and XLV is 0.75 over 3 years, 0.78 over 1 year and 0.77 over 5 years.
Is XLV a good diversifier for GRX?
To a limited degree. At 0.75 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.75 mean?
A reading of 0.75 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/grx-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grx-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GRX correlations · XLV correlations
