BBY vs SPYV: Correlation
How closely do Best Buy (BBY) and SPDR Portfolio S&P 500 Value ETF (SPYV) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBY and SPYV?
Across a 3-year window, the weekly returns of BBY and SPYV correlate at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.47). Stretching to 5 years gives 0.54, with an annualized covariance of 216.1 %².
Within BBY's tracked universe of 33 assets, SPYV comes in at #13 by 3-year correlation. Neither side won the trailing year by much: +16.9% against +18.5%. The rolling one-year correlation moved between 0.28 and 0.73 over the past three years, a moderate range. Note the risk asymmetry: BBY runs 3.1 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.
BBY vs SPYV: side by side
| BBY (Best Buy) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +16.9% | +18.5% |
| 5-year return | -11.2% | +73.5% |
| Volatility (ann.) | 37.6% | 12.1% |
| Beta vs S&P 500 | 0.97 | 0.70 |
| Max drawdown (3Y) | -44.3% | -17.5% |
| Market cap | – | – |
| P/E (trailing) | 16.2 | – |
| Dividend yield | 0.00% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | Consumer Discretionary | ETF · US Style |
SPYV, State Street Investment Management's Large Value fund, carries $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% trailing dividend yield.
Year-by-year returns
| Year | BBY | SPYV |
|---|---|---|
| 2022 | -17.5% | -5.3% |
| 2023 | +2.5% | +22.2% |
| 2024 | +14.4% | +12.2% |
| 2025 | -17.8% | +13.2% |
| 2026 | +28.4% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPYV holds BBY at a 0.06% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are BBY and SPYV good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BBY and SPYV?
As of 2026-08-27, the correlation of weekly returns between BBY and SPYV is 0.47 over 3 years, 0.30 over 1 year and 0.54 over 5 years.
Is SPYV a good diversifier for BBY?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/bby-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bby-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BBY correlations · SPYV correlations
