GTES vs VTV: Correlation
How closely do Gates Industrial Corporation Ltd. (GTES) and Vanguard Value ETF (VTV) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTES and VTV?
Over the past 3 years, GTES and VTV moved with a correlation of 0.66, which is strong. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 276.9 %².
By 3-year correlation, VTV places #4 of the 22 assets tracked against GTES. Correlation aside, the last 12 months split them widely, with VTV ahead by 24.2 points (+1.5% versus +25.7%). Risk is not evenly split, since GTES carries 2.9 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.
GTES vs VTV: side by side
| GTES (Gates Industrial Corporation Ltd.) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +1.5% | +25.7% |
| 5-year return | +56.6% | +79.1% |
| Volatility (ann.) | 35.0% | 11.9% |
| Beta vs S&P 500 | 1.27 | 0.65 |
| Max drawdown (3Y) | -33.8% | -14.5% |
| Market cap | $6.7B | – |
| P/E (trailing) | 18.8 | – |
| Dividend yield | 0.00% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | US Listed | ETF · US Style |
On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Year-by-year returns
| Year | GTES | VTV |
|---|---|---|
| 2022 | -28.3% | -2.1% |
| 2023 | +17.6% | +9.3% |
| 2024 | +53.3% | +16.0% |
| 2025 | +4.4% | +15.3% |
| 2026 | +22.9% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTES and VTV good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GTES and VTV?
The GTES/VTV correlation stands at 0.66 on a 3-year window (1 year: 0.63, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is VTV a good diversifier for GTES?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 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.
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Related comparisons
Hubs: GTES correlations · VTV correlations
