LLY vs XLV: Correlation
Lilly (Eli) (LLY) and Health Care Select Sector SPDR Fund (XLV) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LLY and XLV?
Across a 3-year window, the weekly returns of LLY and XLV correlate at 0.64, strong. The link has tightened recently: the 1-year correlation (0.81) runs above the 3-year figure (0.64). Stretching to 5 years gives 0.63, with an annualized covariance of 344.1 %².
In LLY's tracked universe of 29 assets, XLV sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months LLY outperformed by 33.7 percentage points (+61.2% for LLY against +27.5% for XLV). The relationship is regime-dependent: the rolling one-year correlation swung between 0.23 and 0.81 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: LLY is 2.5 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.
LLY vs XLV: side by side
| LLY (Lilly (Eli)) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +61.2% | +27.5% |
| 5-year return | +369.2% | +37.4% |
| Volatility (ann.) | 36.6% | 14.7% |
| Beta vs S&P 500 | 0.57 | 0.42 |
| Max drawdown (3Y) | -34.5% | -17.1% |
| Market cap | $1,048.8B | – |
| P/E (trailing) | 40.0 | – |
| Dividend yield | 0.54% | 1.56% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $41.7B |
| Sector / category | Health Care | 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 | LLY | XLV |
|---|---|---|
| 2022 | +34.3% | -2.1% |
| 2023 | +60.9% | +2.1% |
| 2024 | +33.3% | +2.5% |
| 2025 | +40.2% | +14.5% |
| 2026 | +10.0% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 15.03% of XLV is LLY itself, so the fund partly moves with the stock by construction.
Are LLY and XLV good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LLY and XLV?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.81 over the last year and 0.63 over 5 years.
Is XLV a good diversifier for LLY?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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/lly-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lly-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LLY correlations · XLV correlations
