PODD vs XLV: Correlation
Insulet Corporation (PODD) and Health Care Select Sector SPDR Fund (XLV) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PODD and XLV?
Across a 3-year window, the weekly returns of PODD and XLV correlate at 0.27, weak. The past 12 months show a tighter link (0.43) than the 3-year average (0.27). Stretching to 5 years gives 0.38, with an annualized covariance of 152.1 %².
Among the 31 assets we track against PODD, XLV ranks #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XLV ahead by 84.6 points (-57.1% versus +27.5%). The rolling one-year correlation moved between 0.00 and 0.47 over the past three years, a moderate range. Note the risk asymmetry: PODD runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PODD vs XLV: side by side
| PODD (Insulet Corporation) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -57.1% | +27.5% |
| 5-year return | -51.6% | +37.4% |
| Volatility (ann.) | 38.9% | 14.7% |
| Beta vs S&P 500 | 0.67 | 0.42 |
| Max drawdown (3Y) | -62.2% | -17.1% |
| Market cap | $9.9B | – |
| P/E (trailing) | 26.9 | – |
| Dividend yield | 0.00% | 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 | PODD | XLV |
|---|---|---|
| 2022 | +10.6% | -2.1% |
| 2023 | -26.3% | +2.1% |
| 2024 | +20.3% | +2.5% |
| 2025 | +8.9% | +14.5% |
| 2026 | -49.5% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLV holds PODD at a 0.16% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are PODD and XLV good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PODD and XLV?
The PODD/XLV correlation stands at 0.27 on a 3-year window (1 year: 0.43, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is XLV a good diversifier for PODD?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/podd-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/podd-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PODD correlations · XLV correlations
