HALO vs XLV: Correlation
Measured on weekly returns over the past three years, Halozyme Therapeutics, Inc. (HALO) and Health Care Select Sector SPDR Fund (XLV) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HALO and XLV?
On 3 years of weekly data the HALO/XLV correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.41 over 3. The 5-year figure is 0.44, and annualized covariance runs at 252.9 %².
Among the 12 assets we track against HALO, XLV ranks #4 by 3-year correlation. The last year tells two different stories: HALO led by 18.6 percentage points, +46.1% for HALO against +27.5% for XLV. One caveat on sizing: HALO is 2.8 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.
HALO vs XLV: side by side
| HALO (Halozyme Therapeutics, Inc.) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +46.1% | +27.5% |
| 5-year return | +154.8% | +37.4% |
| Volatility (ann.) | 41.5% | 14.7% |
| Beta vs S&P 500 | 0.54 | 0.42 |
| Max drawdown (3Y) | -33.9% | -17.1% |
| Market cap | $12.1B | – |
| P/E (trailing) | 31.4 | – |
| 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 | HALO | XLV |
|---|---|---|
| 2022 | +41.5% | -2.1% |
| 2023 | -35.0% | +2.1% |
| 2024 | +29.4% | +2.5% |
| 2025 | +40.8% | +14.5% |
| 2026 | +58.9% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HALO and XLV good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HALO and XLV?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.44 over the last year and 0.44 over 5 years.
Is XLV a good diversifier for HALO?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/halo-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/halo-vs-xlv/)
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Related comparisons
Hubs: HALO correlations · XLV correlations
