APD vs VYM: Correlation
Measured on weekly returns over the past three years, Air Products (APD) and Vanguard High Dividend Yield ETF (VYM) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APD and VYM?
On 3 years of weekly data the APD/VYM correlation comes out at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.27) runs below the 3-year figure (0.49). The 5-year figure is 0.54, and annualized covariance runs at 160.4 %².
Within APD's tracked universe of 33 assets, VYM comes in at #6 by 3-year correlation. On 12-month performance VYM holds a 14.6-point edge, +6.5% against +21.1%. The rolling one-year correlation moved between 0.28 and 0.72 over the past three years, a moderate range. Risk is not evenly split, since APD carries 2.2 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.
APD vs VYM: side by side
| APD (Air Products) | VYM (Vanguard High Dividend Yield ETF) | |
|---|---|---|
| 1-year return | +6.5% | +21.1% |
| 5-year return | +28.2% | +76.6% |
| Volatility (ann.) | 26.7% | 12.3% |
| Beta vs S&P 500 | 0.64 | 0.69 |
| Max drawdown (3Y) | -30.4% | -14.5% |
| Market cap | $68.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.35% | 2.24% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $99.2B |
| Sector / category | Materials | ETF · Dividend |
VYM, Vanguard's Large Value fund, carries $99.2B under management, 604 holdings, a 0.04% expense ratio, a 2.24% trailing dividend yield.
Year-by-year returns
| Year | APD | VYM |
|---|---|---|
| 2022 | +3.9% | -0.4% |
| 2023 | -9.0% | +6.6% |
| 2024 | +8.1% | +17.6% |
| 2025 | -12.7% | +15.4% |
| 2026 | +26.1% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that VYM holds APD at a 0.26% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are APD and VYM good diversifiers for each other?
Reasonably. At 0.49, APD and VYM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APD and VYM?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.27 over the last year and 0.54 over 5 years.
Is VYM a good diversifier for APD?
Reasonably. At 0.49, APD and VYM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: APD correlations · VYM correlations
