ACV vs SPY: Correlation
Measured on weekly returns over the past three years, Virtus Diversified Income & Convertible Fund (ACV) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACV and SPY?
Across a 3-year window, the weekly returns of ACV and SPY correlate at 0.76, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.76 over 3. Stretching to 5 years gives 0.75, with an annualized covariance of 212.6 %².
By 3-year correlation, SPY places #7 of the 17 assets tracked against ACV. The trailing year gives ACV the advantage: +27.4% versus +20.6%, a 6.8-point spread.
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.
ACV vs SPY: side by side
| ACV (Virtus Diversified Income & Convertible Fund) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +27.4% | +20.6% |
| 5-year return | +45.0% | +82.4% |
| Volatility (ann.) | 19.4% | 14.5% |
| Beta vs S&P 500 | 1.02 | 1.00 |
| Max drawdown (3Y) | -23.5% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 5.1 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | ACV | SPY |
|---|---|---|
| 2022 | -36.0% | -18.2% |
| 2023 | +26.0% | +26.2% |
| 2024 | +15.4% | +24.9% |
| 2025 | +33.7% | +17.7% |
| 2026 | +7.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACV and SPY good diversifiers for each other?
Only partially. A correlation of 0.76 means ACV and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ACV and SPY?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.70 over the last year and 0.75 over 5 years.
Is SPY a good diversifier for ACV?
Only partially. A correlation of 0.76 means ACV and SPY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ACV correlations · SPY correlations
