AVY vs VTV: Correlation
Avery Dennison (AVY) and Vanguard Value ETF (VTV) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVY and VTV?
On 3 years of weekly data the AVY/VTV correlation comes out at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. The 5-year figure is 0.63, and annualized covariance runs at 140.5 %².
Within AVY's tracked universe of 38 assets, VTV comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VTV ahead by 20.4 points (+5.3% versus +25.7%). The rolling one-year correlation stayed in a tight band between 0.52 and 0.74 over the past three years, which points to a structural rather than episodic relationship. One caveat on sizing: AVY 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.
AVY vs VTV: side by side
| AVY (Avery Dennison) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +5.3% | +25.7% |
| 5-year return | -14.0% | +79.1% |
| Volatility (ann.) | 20.2% | 11.9% |
| Beta vs S&P 500 | 0.61 | 0.65 |
| Max drawdown (3Y) | -30.6% | -14.5% |
| Market cap | $13.5B | – |
| P/E (trailing) | 20.0 | – |
| Dividend yield | 2.10% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | Materials | ETF · US Style |
On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Year-by-year returns
| Year | AVY | VTV |
|---|---|---|
| 2022 | -15.1% | -2.1% |
| 2023 | +13.7% | +9.3% |
| 2024 | -5.9% | +16.0% |
| 2025 | -0.7% | +15.3% |
| 2026 | -0.8% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVY and VTV good diversifiers for each other?
Only partially. A correlation of 0.58 means AVY and VTV 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 AVY and VTV?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.56 over the last year and 0.63 over 5 years.
Is VTV a good diversifier for AVY?
Only partially. A correlation of 0.58 means AVY and VTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/avy-vs-vtv.json
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Related comparisons
Hubs: AVY correlations · VTV correlations
