BND vs TVC: Correlation
Vanguard Total Bond Market ETF (BND) and Tennessee Valley Authority (TVC) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BND and TVC?
On 3 years of weekly data the BND/TVC correlation comes out at 0.43, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.43 over 3. The 5-year figure is 0.40, and annualized covariance runs at 12.3 %².
Within BND's tracked universe of 33 assets, TVC comes in at #18 by 3-year correlation. Their 12-month results are close: +2.3% for BND against +3.3% for TVC.
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.
BND vs TVC: side by side
| BND (Vanguard Total Bond Market ETF) | TVC (Tennessee Valley Authority) | |
|---|---|---|
| 1-year return | +2.3% | +3.3% |
| 5-year return | -1.3% | +3.0% |
| Volatility (ann.) | 5.2% | 5.5% |
| Beta vs S&P 500 | 0.06 | 0.06 |
| Max drawdown (3Y) | -4.7% | -5.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Bonds | US Listed |
Year-by-year returns
| Year | BND | TVC |
|---|---|---|
| 2022 | -13.1% | -13.3% |
| 2023 | +5.7% | +6.5% |
| 2024 | +1.4% | -0.5% |
| 2025 | +7.1% | +9.2% |
| 2026 | +0.2% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BND and TVC good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BND and TVC?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.48 over the last year and 0.40 over 5 years.
Is TVC a good diversifier for BND?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 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/bnd-vs-tvc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bnd-vs-tvc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BND correlations · TVC correlations
