BVFL vs SPY: Correlation
How closely do BV Financial, Inc. (BVFL) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.30, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BVFL and SPY?
Over the past 3 years, BVFL and SPY moved with a correlation of 0.30, which is moderate. The past 12 months show a weaker link (0.07) than the 3-year average (0.30). Over 5 years the correlation is 0.14, and the annualized covariance of weekly returns is 102.3 %².
SPY is close to the least connected end of BVFL's tracked universe, ranking #7 of 11. On 12-month performance BVFL holds a 6.9-point edge, +27.5% against +20.6%. One caveat on sizing: BVFL is 1.6 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.
BVFL vs SPY: side by side
| BVFL (BV Financial, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +27.5% | +20.6% |
| 5-year return | +55.7% | +82.4% |
| Volatility (ann.) | 23.9% | 14.5% |
| Beta vs S&P 500 | 0.49 | 1.00 |
| Max drawdown (3Y) | -30.9% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 14.3 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | BVFL | SPY |
|---|---|---|
| 2022 | +24.4% | -18.2% |
| 2023 | -13.2% | +26.2% |
| 2024 | +21.4% | +24.9% |
| 2025 | +5.3% | +17.7% |
| 2026 | +17.8% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BVFL and SPY good diversifiers for each other?
Reasonably. At 0.30, BVFL and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BVFL and SPY?
The BVFL/SPY correlation stands at 0.30 on a 3-year window (1 year: 0.07, 5 years: 0.14), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for BVFL?
Reasonably. At 0.30, BVFL and SPY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.30 mean?
On the −1 to +1 scale, 0.30 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.
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Related comparisons
Hubs: BVFL correlations · SPY correlations
