Accumulating evidence suggests depression is associated with blunted reactivity to positive and negative stimuli, known as emotion context insensitivity (ECI). However, ECI is not consistently observed in the literature, suggesting moderators that influence its presence. We propose self-relevance as one such moderator, with ECI most apparent when self-relevance is low. We examined this proposal by measuring self-report and facial electromyography (EMG) from the corrugator muscle while participants (n = 81) imagined hypothetical scenarios with varying self-relevance and recalled autobiographical memories. Increased depressive symptoms on the Center for Epidemiologic Studies Depression Scale were associated with less differentiated arousal and self-relevance ratings between happy, neutral, and sad scenarios. EMG analyses further revealed that individuals with high depressive symptoms exhibited blunted corrugator reactivity (reduced differentiation) for sad, neutral, and happy scenarios with low self-relevance, while corrugator reactivity remained sensitive to valence for highly self-relevant scenarios. By comparison, in individuals with low depressive symptoms, corrugator activity differentiated valence regardless of stimulus self-relevance. Supporting a role for self-relevance in shaping ECI, we observed no depression-related differences in emotional reactivity when participants recalled highly self-relevant happy or sad autobiographical memories. Our findings suggest ECI is primarily associated with blunted reactivity towards material deemed low in self-relevance.