AGG vs TVE: Correlation
iShares Core US Aggregate Bond ETF (AGG) and Tennessee Valley Authority (TVE) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGG and TVE?
Over the past 3 years, AGG and TVE moved with a correlation of 0.46, which is moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.46 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 15.1 %².
Among the 34 assets we track against AGG, TVE ranks #18 by 3-year correlation. Neither side won the trailing year by much: +2.3% against +1.7%.
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.
AGG vs TVE: side by side
| AGG (iShares Core US Aggregate Bond ETF) | TVE (Tennessee Valley Authority) | |
|---|---|---|
| 1-year return | +2.3% | +1.7% |
| 5-year return | -1.1% | +0.6% |
| Volatility (ann.) | 5.3% | 6.1% |
| Beta vs S&P 500 | 0.07 | 0.08 |
| Max drawdown (3Y) | -4.8% | -5.7% |
| Dividend yield | 4.05% | – |
| Expense ratio | 0.03% | – |
| Assets under management | $137.1B | – |
| Sector / category | ETF · Bonds | US Listed |
On the fund side, AGG sits in the Intermediate Core Bond category at iShares, with $137.1B under management, a 0.03% expense ratio, a 4.05% trailing dividend yield.
Year-by-year returns
| Year | AGG | TVE |
|---|---|---|
| 2022 | -13.0% | -13.5% |
| 2023 | +5.7% | +7.2% |
| 2024 | +1.3% | +0.1% |
| 2025 | +7.2% | +12.1% |
| 2026 | +0.3% | -2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGG and TVE good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AGG and TVE?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.40 over the last year and 0.48 over 5 years.
Is TVE a good diversifier for AGG?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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/agg-vs-tve.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/agg-vs-tve/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AGG correlations · TVE correlations
