REGN vs XLV: Correlation
Measured on weekly returns over the past three years, Regeneron Pharmaceuticals (REGN) and Health Care Select Sector SPDR Fund (XLV) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REGN and XLV?
Over the past 3 years, REGN and XLV moved with a correlation of 0.46, which is moderate. The past 12 months show a weaker link (0.34) than the 3-year average (0.46). Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 214.3 %².
Within REGN's tracked universe of 27 assets, XLV comes in at #5 by 3-year correlation. On 12-month performance REGN holds a 10.8-point edge, +38.3% against +27.5%. The rolling one-year correlation moved between 0.32 and 0.62 over the past three years, a moderate range. One caveat on sizing: REGN is 2.2 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.
REGN vs XLV: side by side
| REGN (Regeneron Pharmaceuticals) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +38.3% | +27.5% |
| 5-year return | +20.4% | +37.4% |
| Volatility (ann.) | 31.8% | 14.7% |
| Beta vs S&P 500 | 0.61 | 0.42 |
| Max drawdown (3Y) | -59.7% | -17.1% |
| Market cap | $83.2B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 0.45% | 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 | REGN | XLV |
|---|---|---|
| 2022 | +14.2% | -2.1% |
| 2023 | +21.7% | +2.1% |
| 2024 | -18.9% | +2.5% |
| 2025 | +9.0% | +14.5% |
| 2026 | +5.0% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
REGN represents 1.3% of XLV's portfolio, so part of any move in XLV is REGN itself, and the correlation between them is partly mechanical.
Are REGN and XLV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between REGN and XLV?
As of 2026-08-27, the correlation of weekly returns between REGN and XLV is 0.46 over 3 years, 0.34 over 1 year and 0.50 over 5 years.
Is XLV a good diversifier for REGN?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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/regn-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/regn-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: REGN correlations · XLV correlations
