AMBA vs VOO: Correlation
How closely do Ambarella, Inc. (AMBA) and Vanguard S&P 500 ETF (VOO) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMBA and VOO?
Across a 3-year window, the weekly returns of AMBA and VOO correlate at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.35) runs below the 3-year figure (0.52). Stretching to 5 years gives 0.55, with an annualized covariance of 446.0 %².
Within AMBA's tracked universe of 10 assets, VOO comes in at #4 by 3-year correlation. The last year tells two different stories: VOO led by 21.7 percentage points, -1.1% for AMBA against +20.6% for VOO. Risk is not evenly split, since AMBA carries 4.2 times the volatility of the other side.
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.
AMBA vs VOO: side by side
| AMBA (Ambarella, Inc.) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | -1.1% | +20.6% |
| 5-year return | -32.5% | +83.0% |
| Volatility (ann.) | 59.8% | 14.4% |
| Beta vs S&P 500 | 2.14 | 0.99 |
| Max drawdown (3Y) | -51.4% | -18.7% |
| Market cap | $3.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | US Listed | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | AMBA | VOO |
|---|---|---|
| 2022 | -59.5% | -18.2% |
| 2023 | -25.5% | +26.3% |
| 2024 | +18.7% | +25.0% |
| 2025 | -2.6% | +17.8% |
| 2026 | +0.5% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMBA and VOO good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMBA and VOO?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.35 over the last year and 0.55 over 5 years.
Is VOO a good diversifier for AMBA?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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: AMBA correlations · VOO correlations
