BNY vs VIG: Correlation
How closely do BNY Mellon (BNY) and Vanguard Dividend Appreciation ETF (VIG) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNY and VIG?
On 3 years of weekly data the BNY/VIG correlation comes out at 0.70, strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 168.5 %².
Among the 31 assets we track against BNY, VIG ranks #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BNY outperformed by 40.1 percentage points (+57.2% for BNY against +17.1% for VIG). The link looks structural: the rolling one-year correlation barely moved, holding between 0.57 and 0.80. Risk is not evenly split, since BNY carries 1.7 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.
BNY vs VIG: side by side
| BNY (BNY Mellon) | VIG (Vanguard Dividend Appreciation ETF) | |
|---|---|---|
| 1-year return | +57.2% | +17.1% |
| 5-year return | +236.7% | +64.0% |
| Volatility (ann.) | 20.2% | 11.9% |
| Beta vs S&P 500 | 0.89 | 0.74 |
| Max drawdown (3Y) | -17.6% | -15.0% |
| Market cap | $110.1B | – |
| P/E (trailing) | 19.0 | – |
| Dividend yield | 1.30% | 1.50% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $130.9B |
| Sector / category | Financials | ETF · Dividend |
VIG, Vanguard's Large Blend fund, carries $130.9B under management, 333 holdings, a 0.04% expense ratio, a 1.50% trailing dividend yield.
Year-by-year returns
| Year | BNY | VIG |
|---|---|---|
| 2022 | -19.1% | -9.8% |
| 2023 | +18.5% | +14.5% |
| 2024 | +51.9% | +17.0% |
| 2025 | +54.4% | +14.2% |
| 2026 | +41.5% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that VIG holds BNY at a 0.47% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are BNY and VIG good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BNY and VIG?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.63 over the last year and 0.65 over 5 years.
Is VIG a good diversifier for BNY?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
A reading of 0.70 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
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Related comparisons
Hubs: BNY correlations · VIG correlations
