BLK vs SPYV: Correlation
Measured on weekly returns over the past three years, BlackRock (BLK) and SPDR Portfolio S&P 500 Value ETF (SPYV) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLK and SPYV?
On 3 years of weekly data the BLK/SPYV correlation comes out at 0.71, strong. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.71). The 5-year figure is 0.76, and annualized covariance runs at 213.4 %².
In BLK's tracked universe of 42 assets, SPYV sits right near the top at #3. Over the last 12 months SPYV came out ahead by 13.2 percentage points (+5.3% against +18.5%). On a rolling one-year basis the correlation drifted between 0.44 and 0.87, a moderate band. Risk is not evenly split, since BLK carries 2.0 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.
BLK vs SPYV: side by side
| BLK (BlackRock) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +5.3% | +18.5% |
| 5-year return | +38.9% | +73.5% |
| Volatility (ann.) | 24.7% | 12.1% |
| Beta vs S&P 500 | 1.19 | 0.70 |
| Max drawdown (3Y) | -23.7% | -17.5% |
| Market cap | $189.7B | – |
| P/E (trailing) | 28.1 | – |
| Dividend yield | 1.86% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | Financials | 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 | BLK | SPYV |
|---|---|---|
| 2022 | -20.4% | -5.3% |
| 2023 | +17.9% | +22.2% |
| 2024 | +29.3% | +12.2% |
| 2025 | +6.6% | +13.2% |
| 2026 | +10.3% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.56% of SPYV is BLK itself, so the fund partly moves with the stock by construction.
Are BLK and SPYV good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BLK and SPYV?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.44 over the last year and 0.76 over 5 years.
Is SPYV a good diversifier for BLK?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
A reading of 0.71 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/blk-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/blk-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BLK correlations · SPYV correlations
