In an effort to understand potential biological indices of menstrually-related mood changes experienced by some naturally cycling individuals, we previously investigated whether vagally-mediated HRV (i.e., a biomarker of physical and mental health) fluctuates across the menstrual cycle. Our recent meta-analysis revealed a significant decrease of HRV in the midluteal phase which, as two-follow up studies suggest, is correlated with progesterone. However, the question remains whether cyclicity of HRV is associated with cyclicity of mood symptoms. Fifty naturally-cycling participants (M=24.8 years, SD=5.8) were examined (10-min baseline EKG for HRV assessment, PANAS for mood assessment) in three precisely determined cycle phases (ovulatory, midluteal, menstrual) via ovulation testing. To test the idea that degree of midluteal (vs. menstrual phase) HRV suppression is associated with the degree of PANAS same-day mood deterioration in the midluteal phase (vs. menstrual phase), each person’s difference score in HRV between the two phases was assessed. This between-person factor was taken into multilevel models predicting PANAS items from menstrual cycle phase. Analyses revealed that greater midluteal phase suppression of HRV was associated with greater midluteal phase increases in distress, as well as several fear and anxiety variables. No differences in sadness or irritability were found. These findings suggest that cyclical HRV suppression and cyclical increase in mood symptoms tend to covary. Further work is needed to clarify whether cyclicity of HRV may serve as a biological index of menstrually-related mood disorders.