VTRS vs XLV: Correlation
Measured on weekly returns over the past three years, Viatris (VTRS) and Health Care Select Sector SPDR Fund (XLV) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VTRS and XLV?
On 3 years of weekly data the VTRS/XLV correlation comes out at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.35 lands near the 3-year figure. The 5-year figure is 0.40, and annualized covariance runs at 203.5 %².
By 3-year correlation, XLV places #20 of the 37 assets tracked against VTRS. The last year tells two different stories: VTRS led by 40.3 percentage points, +67.8% for VTRS against +27.5% for XLV. Across three years, the rolling one-year figure varied moderately, from 0.23 to 0.62. Risk is not evenly split, since VTRS carries 2.2 times the volatility of the other side.
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.
VTRS vs XLV: side by side
| VTRS (Viatris) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +67.8% | +27.5% |
| 5-year return | +44.6% | +37.4% |
| Volatility (ann.) | 32.8% | 14.7% |
| Beta vs S&P 500 | 0.79 | 0.42 |
| Max drawdown (3Y) | -45.0% | -17.1% |
| Market cap | $19.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.85% | 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 | VTRS | XLV |
|---|---|---|
| 2022 | -14.3% | -2.1% |
| 2023 | +2.1% | +2.1% |
| 2024 | +19.7% | +2.5% |
| 2025 | +5.1% | +14.5% |
| 2026 | +38.9% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.31% of XLV is VTRS itself, so the fund partly moves with the stock by construction.
Are VTRS and XLV good diversifiers for each other?
Reasonably. At 0.42, VTRS and XLV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between VTRS and XLV?
As of 2026-08-27, the correlation of weekly returns between VTRS and XLV is 0.42 over 3 years, 0.35 over 1 year and 0.40 over 5 years.
Is XLV a good diversifier for VTRS?
Reasonably. At 0.42, VTRS and XLV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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/vtrs-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vtrs-vs-xlv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VTRS correlations · XLV correlations
