BNY vs SPYV: Correlation
How closely do BNY Mellon (BNY) and SPDR Portfolio S&P 500 Value ETF (SPYV) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNY and SPYV?
Over the past 3 years, BNY and SPYV moved with a correlation of 0.74, which is strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 181.2 %².
In BNY's tracked universe of 31 assets, SPYV sits right near the top at #2. The last year tells two different stories: BNY led by 38.7 percentage points, +57.2% for BNY against +18.5% for SPYV. The rolling one-year correlation moved between 0.54 and 0.85 over the past three years, a moderate range. One caveat on sizing: BNY 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.
BNY vs SPYV: side by side
| BNY (BNY Mellon) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +57.2% | +18.5% |
| 5-year return | +236.7% | +73.5% |
| Volatility (ann.) | 20.2% | 12.1% |
| Beta vs S&P 500 | 0.89 | 0.70 |
| Max drawdown (3Y) | -17.6% | -17.5% |
| Market cap | $110.1B | – |
| P/E (trailing) | 19.0 | – |
| Dividend yield | 1.30% | 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 | BNY | SPYV |
|---|---|---|
| 2022 | -19.1% | -5.3% |
| 2023 | +18.5% | +22.2% |
| 2024 | +51.9% | +12.2% |
| 2025 | +54.4% | +13.2% |
| 2026 | +41.5% | +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 BNY at a 0.14% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are BNY and SPYV good diversifiers for each other?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BNY and SPYV?
The BNY/SPYV correlation stands at 0.74 on a 3-year window (1 year: 0.64, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is SPYV a good diversifier for BNY?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/bny-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bny-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BNY correlations · SPYV correlations
