BA vs VOO: Correlation
Measured on weekly returns over the past three years, Boeing (BA) and Vanguard S&P 500 ETF (VOO) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BA and VOO?
Over the past 3 years, BA and VOO moved with a correlation of 0.57, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 296.3 %².
Within BA's tracked universe of 37 assets, VOO comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VOO ahead by 31.5 points (-10.9% versus +20.6%). On a rolling one-year basis the correlation drifted between 0.26 and 0.71, a moderate band. Note the risk asymmetry: BA runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BA vs VOO: side by side
| BA (Boeing) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | -10.9% | +20.6% |
| 5-year return | -3.6% | +83.0% |
| Volatility (ann.) | 36.4% | 14.4% |
| Beta vs S&P 500 | 1.43 | 0.99 |
| Max drawdown (3Y) | -48.3% | -18.7% |
| Market cap | $165.9B | – |
| P/E (trailing) | 76.3 | – |
| Dividend yield | 0.00% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | Industrials | 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 | BA | VOO |
|---|---|---|
| 2022 | -5.4% | -18.2% |
| 2023 | +36.8% | +26.3% |
| 2024 | -32.1% | +25.0% |
| 2025 | +22.7% | +17.8% |
| 2026 | -3.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.26% of VOO is BA itself, so the fund partly moves with the stock by construction.
Are BA and VOO good diversifiers for each other?
Only partially. A correlation of 0.57 means BA and VOO 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 BA and VOO?
As of 2026-08-27, the correlation of weekly returns between BA and VOO is 0.57 over 3 years, 0.53 over 1 year and 0.54 over 5 years.
Is VOO a good diversifier for BA?
Only partially. A correlation of 0.57 means BA and VOO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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: BA correlations · VOO correlations
