CTAS vs SPYV: Correlation
Cintas (CTAS) and SPDR Portfolio S&P 500 Value ETF (SPYV) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTAS and SPYV?
Across a 3-year window, the weekly returns of CTAS and SPYV correlate at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.53 over 3 years. Stretching to 5 years gives 0.64, with an annualized covariance of 148.6 %².
Among the 38 assets we track against CTAS, SPYV ranks #5 by 3-year correlation. The last year tells two different stories: SPYV led by 21.8 percentage points, -3.3% for CTAS against +18.5% for SPYV. On a rolling one-year basis the correlation drifted between 0.40 and 0.76, a moderate band. Risk is not evenly split, since CTAS carries 1.9 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.
CTAS vs SPYV: side by side
| CTAS (Cintas) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | -3.3% | +18.5% |
| 5-year return | +117.4% | +73.5% |
| Volatility (ann.) | 23.2% | 12.1% |
| Beta vs S&P 500 | 0.71 | 0.70 |
| Max drawdown (3Y) | -27.7% | -17.5% |
| Market cap | $81.7B | – |
| P/E (trailing) | 41.8 | – |
| Dividend yield | 0.87% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | Industrials | 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 | CTAS | SPYV |
|---|---|---|
| 2022 | +3.0% | -5.3% |
| 2023 | +34.8% | +22.2% |
| 2024 | +22.2% | +12.2% |
| 2025 | +3.8% | +13.2% |
| 2026 | +9.4% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CTAS represents 0.23% of SPYV's portfolio, so part of any move in SPYV is CTAS itself, and the correlation between them is partly mechanical.
Are CTAS and SPYV good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CTAS and SPYV?
The CTAS/SPYV correlation stands at 0.53 on a 3-year window (1 year: 0.41, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is SPYV a good diversifier for CTAS?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ctas-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctas-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTAS correlations · SPYV correlations
