SOC vs XLV: Correlation
How closely do Sable Offshore Corp. (SOC) and Health Care Select Sector SPDR Fund (XLV) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SOC and XLV?
On 3 years of weekly data the SOC/XLV correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.22). The 5-year figure is -0.16, and annualized covariance runs at -330.9 %².
By 3-year correlation, XLV places #16 of the 31 assets tracked against SOC. Their recent paths diverged sharply: over the last 12 months XLV outperformed by 111.1 percentage points (-83.6% for SOC against +27.5% for XLV). Note the risk asymmetry: SOC runs 6.9 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.
SOC vs XLV: side by side
| SOC (Sable Offshore Corp.) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -83.6% | +27.5% |
| 5-year return | -51.7% | +37.4% |
| Volatility (ann.) | 101.7% | 14.7% |
| Beta vs S&P 500 | 0.03 | 0.42 |
| Max drawdown (3Y) | -90.7% | -17.1% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| 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 | SOC | XLV |
|---|---|---|
| 2022 | +3.4% | -2.1% |
| 2023 | +13.3% | +2.1% |
| 2024 | +101.1% | +2.5% |
| 2025 | -60.6% | +14.5% |
| 2026 | -48.3% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SOC and XLV good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between SOC and XLV?
As of 2026-08-27, the correlation of weekly returns between SOC and XLV is -0.22 over 3 years, -0.37 over 1 year and -0.16 over 5 years.
Is XLV a good diversifier for SOC?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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/soc-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/soc-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SOC correlations · XLV correlations
