HON vs VTV: Correlation
How closely do Honeywell Technologies (HON) and Vanguard Value ETF (VTV) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HON and VTV?
On 3 years of weekly data the HON/VTV correlation comes out at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.63, and annualized covariance runs at 156.1 %².
VTV is one of the assets that tracks HON most closely: it ranks #1 out of the 32 assets we track against HON. Their recent paths diverged sharply: over the last 12 months VTV outperformed by 23.0 percentage points (+2.7% for HON against +25.7% for VTV). The rolling one-year correlation moved between 0.45 and 0.78 over the past three years, a moderate range. One caveat on sizing: HON is 1.9 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.
HON vs VTV: side by side
| HON (Honeywell Technologies) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +2.7% | +25.7% |
| 5-year return | +6.6% | +79.1% |
| Volatility (ann.) | 23.2% | 11.9% |
| Beta vs S&P 500 | 0.74 | 0.65 |
| Max drawdown (3Y) | -22.1% | -14.5% |
| Market cap | $69.9B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 4.26% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | Industrials | 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 | HON | VTV |
|---|---|---|
| 2022 | +4.9% | -2.1% |
| 2023 | +0.0% | +9.3% |
| 2024 | +10.0% | +16.0% |
| 2025 | -6.4% | +15.3% |
| 2026 | +9.2% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
HON represents 0.29% of VTV's portfolio, so part of any move in VTV is HON itself, and the correlation between them is partly mechanical.
Are HON and VTV good diversifiers for each other?
Only partially. A correlation of 0.57 means HON and VTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HON and VTV?
The HON/VTV correlation stands at 0.57 on a 3-year window (1 year: 0.50, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is VTV a good diversifier for HON?
Only partially. A correlation of 0.57 means HON and VTV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hon-vs-vtv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hon-vs-vtv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HON correlations · VTV correlations
