ISRG vs IVV: Correlation
How closely do Intuitive Surgical (ISRG) and iShares Core S&P 500 ETF (IVV) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ISRG and IVV?
Over the past 3 years, ISRG and IVV moved with a correlation of 0.56, which is moderate. The link has loosened recently: the 1-year correlation (0.38) runs below the 3-year figure (0.56). Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 252.4 %².
Among the 36 assets we track against ISRG, IVV ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IVV outperformed by 42.8 percentage points (-22.1% for ISRG against +20.7% for IVV). The rolling one-year correlation moved between 0.28 and 0.77 over the past three years, a moderate range. Note the risk asymmetry: ISRG runs 2.1 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.
ISRG vs IVV: side by side
| ISRG (Intuitive Surgical) | IVV (iShares Core S&P 500 ETF) | |
|---|---|---|
| 1-year return | -22.1% | +20.7% |
| 5-year return | +4.0% | +83.0% |
| Volatility (ann.) | 31.1% | 14.5% |
| Beta vs S&P 500 | 1.20 | 1.00 |
| Max drawdown (3Y) | -45.6% | -18.8% |
| Market cap | $131.5B | – |
| P/E (trailing) | 42.5 | – |
| Dividend yield | 0.00% | 1.09% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $869.2B |
| Sector / category | Health Care | ETF · US Large Cap |
IVV is a Large Blend fund from iShares: $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | ISRG | IVV |
|---|---|---|
| 2022 | -26.1% | -18.2% |
| 2023 | +27.1% | +26.3% |
| 2024 | +54.7% | +24.9% |
| 2025 | +8.5% | +17.8% |
| 2026 | -35.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that IVV holds ISRG at a 0.2% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ISRG and IVV 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 ISRG and IVV?
As of 2026-08-27, the correlation of weekly returns between ISRG and IVV is 0.56 over 3 years, 0.38 over 1 year and 0.65 over 5 years.
Is IVV a good diversifier for ISRG?
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?
On the −1 to +1 scale, 0.56 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/isrg-vs-ivv/)
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Related comparisons
Hubs: ISRG correlations · IVV correlations
