SYK vs XLV: Correlation
Stryker Corporation (SYK) and Health Care Select Sector SPDR Fund (XLV) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SYK and XLV?
Across a 3-year window, the weekly returns of SYK and XLV correlate at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 147.3 %².
Within SYK's tracked universe of 38 assets, XLV comes in at #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XLV outperformed by 44.7 percentage points (-17.2% for SYK against +27.5% for XLV). Across three years, the rolling one-year figure varied moderately, from 0.32 to 0.61.
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.
SYK vs XLV: side by side
| SYK (Stryker Corporation) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | -17.2% | +27.5% |
| 5-year return | +23.8% | +37.4% |
| Volatility (ann.) | 21.5% | 14.7% |
| Beta vs S&P 500 | 0.61 | 0.42 |
| Max drawdown (3Y) | -29.4% | -17.1% |
| Market cap | $123.6B | – |
| P/E (trailing) | 34.1 | – |
| Dividend yield | 1.06% | 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 | SYK | XLV |
|---|---|---|
| 2022 | -7.4% | -2.1% |
| 2023 | +23.8% | +2.1% |
| 2024 | +21.3% | +2.5% |
| 2025 | -1.5% | +14.5% |
| 2026 | -7.9% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.82% of XLV is SYK itself, so the fund partly moves with the stock by construction.
Are SYK and XLV good diversifiers for each other?
Reasonably. At 0.47, SYK and XLV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SYK and XLV?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.46 over the last year and 0.55 over 5 years.
Is XLV a good diversifier for SYK?
Reasonably. At 0.47, SYK and XLV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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/syk-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/syk-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SYK correlations · XLV correlations
