ALV vs VEA: Correlation
How closely do Autoliv, Inc. (ALV) and Vanguard FTSE Developed Markets ETF (VEA) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALV and VEA?
Over the past 3 years, ALV and VEA moved with a correlation of 0.61, which is strong. Recent behaviour matches the longer record: 0.54 over 1 year against 0.61 over 3. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 238.5 %².
Within ALV's tracked universe of 16 assets, VEA comes in at #5 by 3-year correlation. The last year tells two different stories: VEA led by 27.2 percentage points, +1.3% for ALV against +28.5% for VEA. One caveat on sizing: ALV is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALV vs VEA: side by side
| ALV (Autoliv, Inc.) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +1.3% | +28.5% |
| 5-year return | +58.0% | +63.5% |
| Volatility (ann.) | 25.8% | 15.1% |
| Beta vs S&P 500 | 0.88 | 0.79 |
| Max drawdown (3Y) | -39.3% | -13.5% |
| Market cap | $9.0B | – |
| P/E (trailing) | 14.5 | – |
| Dividend yield | 2.80% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | US Listed | ETF · International |
VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Year-by-year returns
| Year | ALV | VEA |
|---|---|---|
| 2022 | -23.5% | -15.3% |
| 2023 | +48.0% | +17.9% |
| 2024 | -12.7% | +3.1% |
| 2025 | +29.2% | +35.2% |
| 2026 | +5.1% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.6% of VEA is ALV itself, so the fund partly moves with the stock by construction.
Are ALV and VEA good diversifiers for each other?
Only partially. A correlation of 0.61 means ALV and VEA 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 ALV and VEA?
As of 2026-08-27, the correlation of weekly returns between ALV and VEA is 0.61 over 3 years, 0.54 over 1 year and 0.65 over 5 years.
Is VEA a good diversifier for ALV?
Only partially. A correlation of 0.61 means ALV and VEA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alv-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alv-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALV correlations · VEA correlations
