CNXN vs SPYV: Correlation
Measured on weekly returns over the past three years, PC Connection, Inc. (CNXN) and SPDR Portfolio S&P 500 Value ETF (SPYV) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNXN and SPYV?
Across a 3-year window, the weekly returns of CNXN and SPYV correlate at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 186.6 %².
By 3-year correlation, SPYV places #5 of the 12 assets tracked against CNXN. Over the last 12 months CNXN came out ahead by 7.7 percentage points (+26.2% against +18.5%). One caveat on sizing: CNXN is 2.3 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.
CNXN vs SPYV: side by side
| CNXN (PC Connection, Inc.) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +26.2% | +18.5% |
| 5-year return | +75.2% | +73.5% |
| Volatility (ann.) | 27.3% | 12.1% |
| Beta vs S&P 500 | 0.86 | 0.70 |
| Max drawdown (3Y) | -26.3% | -17.5% |
| Market cap | $2.0B | – |
| P/E (trailing) | 21.0 | – |
| Dividend yield | 0.88% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | US Listed | 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 | CNXN | SPYV |
|---|---|---|
| 2022 | +9.4% | -5.3% |
| 2023 | +44.3% | +22.2% |
| 2024 | +3.7% | +12.2% |
| 2025 | -15.8% | +13.2% |
| 2026 | +40.7% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNXN and SPYV good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CNXN and SPYV?
The CNXN/SPYV correlation stands at 0.56 on a 3-year window (1 year: 0.51, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is SPYV a good diversifier for CNXN?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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/cnxn-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cnxn-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CNXN correlations · SPYV correlations
