NVS vs XLV: Correlation
Novartis AG (NVS) and Health Care Select Sector SPDR Fund (XLV) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVS and XLV?
Over the past 3 years, NVS and XLV moved with a correlation of 0.67, which is strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 193.4 %².
In NVS's tracked universe of 22 assets, XLV sits right near the top at #2. Neither side won the trailing year by much: +25.6% 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.
NVS vs XLV: side by side
| NVS (Novartis AG) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +25.6% | +27.5% |
| 5-year return | +103.5% | +37.4% |
| Volatility (ann.) | 19.6% | 14.7% |
| Beta vs S&P 500 | 0.25 | 0.42 |
| Max drawdown (3Y) | -20.0% | -17.1% |
| Market cap | $293.9B | – |
| P/E (trailing) | 23.4 | – |
| Dividend yield | 2.96% | 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 | NVS | XLV |
|---|---|---|
| 2022 | +8.1% | -2.1% |
| 2023 | +16.1% | +2.1% |
| 2024 | +0.0% | +2.5% |
| 2025 | +47.0% | +14.5% |
| 2026 | +15.6% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVS and XLV good diversifiers for each other?
To a limited degree. At 0.67 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 NVS and XLV?
As of 2026-08-27, the correlation of weekly returns between NVS and XLV is 0.67 over 3 years, 0.72 over 1 year and 0.67 over 5 years.
Is XLV a good diversifier for NVS?
To a limited degree. At 0.67 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 0.67 mean?
On the −1 to +1 scale, 0.67 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/nvs-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvs-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
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Hubs: NVS correlations · XLV correlations
