JAZZ vs XLV: Correlation
Measured on weekly returns over the past three years, Jazz Pharmaceuticals plc (JAZZ) and Health Care Select Sector SPDR Fund (XLV) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JAZZ and XLV?
Across a 3-year window, the weekly returns of JAZZ and XLV correlate at 0.45, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 228.9 %².
XLV is one of the assets that tracks JAZZ most closely: it ranks #3 out of the 14 assets we track against JAZZ. Correlation aside, the last 12 months split them widely, with JAZZ ahead by 74.3 points (+101.8% versus +27.5%). One caveat on sizing: JAZZ is 2.4 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.
JAZZ vs XLV: side by side
| JAZZ (Jazz Pharmaceuticals plc) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +101.8% | +27.5% |
| 5-year return | +90.9% | +37.4% |
| Volatility (ann.) | 34.6% | 14.7% |
| Beta vs S&P 500 | 0.60 | 0.42 |
| Max drawdown (3Y) | -32.7% | -17.1% |
| Market cap | $16.3B | – |
| P/E (trailing) | 17.2 | – |
| 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 | JAZZ | XLV |
|---|---|---|
| 2022 | +25.0% | -2.1% |
| 2023 | -22.8% | +2.1% |
| 2024 | +0.1% | +2.5% |
| 2025 | +38.0% | +14.5% |
| 2026 | +47.7% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JAZZ and XLV good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between JAZZ and XLV?
As of 2026-08-27, the correlation of weekly returns between JAZZ and XLV is 0.45 over 3 years, 0.40 over 1 year and 0.46 over 5 years.
Is XLV a good diversifier for JAZZ?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/jazz-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jazz-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JAZZ correlations · XLV correlations
