HOOD vs VOO: Correlation
Measured on weekly returns over the past three years, Robinhood Markets (HOOD) and Vanguard S&P 500 ETF (VOO) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOOD and VOO?
Across a 3-year window, the weekly returns of HOOD and VOO correlate at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.53, with an annualized covariance of 599.5 %².
Among the 39 assets we track against HOOD, VOO ranks #15 by 3-year correlation. Over the last 12 months VOO came out ahead by 14.0 percentage points (+6.6% against +20.6%). On a rolling one-year basis the correlation drifted between 0.31 and 0.76, a moderate band. Note the risk asymmetry: HOOD runs 5.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HOOD vs VOO: side by side
| HOOD (Robinhood Markets) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | +6.6% | +20.6% |
| 5-year return | +151.5% | +83.0% |
| Volatility (ann.) | 71.4% | 14.4% |
| Beta vs S&P 500 | 2.88 | 0.99 |
| Max drawdown (3Y) | -57.3% | -18.7% |
| Market cap | $98.7B | – |
| P/E (trailing) | 48.1 | – |
| Dividend yield | 0.00% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | Financials | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | HOOD | VOO |
|---|---|---|
| 2022 | -54.2% | -18.2% |
| 2023 | +56.5% | +26.3% |
| 2024 | +192.5% | +25.0% |
| 2025 | +203.5% | +17.8% |
| 2026 | -3.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.11% of VOO is HOOD itself, so the fund partly moves with the stock by construction.
Are HOOD and VOO good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between HOOD and VOO?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.59 over the last year and 0.53 over 5 years.
Is VOO a good diversifier for HOOD?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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: HOOD correlations · VOO correlations
