ASG vs IVV: Correlation
How closely do Liberty All-Star Growth Fund, Inc. (ASG) and iShares Core S&P 500 ETF (IVV) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and IVV?
Across a 3-year window, the weekly returns of ASG and IVV correlate at 0.89, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.88 over 1 year against 0.89 over 3. Stretching to 5 years gives 0.85, with an annualized covariance of 235.5 %².
Few assets follow ASG as closely as IVV, which ranks #2 of 52 tracked partners. Their recent paths diverged sharply: over the last 12 months IVV outperformed by 17.4 percentage points (+3.3% for ASG against +20.7% for IVV).
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.
ASG vs IVV: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | IVV (iShares Core S&P 500 ETF) | |
|---|---|---|
| 1-year return | +3.3% | +20.7% |
| 5-year return | -5.6% | +83.0% |
| Volatility (ann.) | 18.3% | 14.5% |
| Beta vs S&P 500 | 1.12 | 1.00 |
| Max drawdown (3Y) | -25.3% | -18.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 8.76% | 1.09% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $869.2B |
| Sector / category | US Listed | ETF · US Large Cap |
IVV is a Large Blend fund from iShares: $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | ASG | IVV |
|---|---|---|
| 2022 | -40.9% | -18.2% |
| 2023 | +16.2% | +26.3% |
| 2024 | +16.8% | +24.9% |
| 2025 | +2.2% | +17.8% |
| 2026 | +6.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and IVV good diversifiers for each other?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ASG and IVV?
As of 2026-08-27, the correlation of weekly returns between ASG and IVV is 0.89 over 3 years, 0.88 over 1 year and 0.85 over 5 years.
Is IVV a good diversifier for ASG?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.89 mean?
On the −1 to +1 scale, 0.89 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
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Related comparisons
Hubs: ASG correlations · IVV correlations
