IVV vs JCE: Correlation
Measured on weekly returns over the past three years, iShares Core S&P 500 ETF (IVV) and Nuveen Core Equity Alpha Fund (JCE) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and JCE?
Over the past 3 years, IVV and JCE moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.92 lands near the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 192.1 %².
Within IVV's tracked universe of 122 assets, JCE comes in at #26 by 3-year correlation. Twelve-month performance is nearly a tie, at +20.7% for IVV and +18.1% for JCE.
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.
IVV vs JCE: side by side
| IVV (iShares Core S&P 500 ETF) | JCE (Nuveen Core Equity Alpha Fund) | |
|---|---|---|
| 1-year return | +20.7% | +18.1% |
| 5-year return | +83.0% | +72.6% |
| Volatility (ann.) | 14.5% | 15.7% |
| Beta vs S&P 500 | 1.00 | 0.91 |
| Max drawdown (3Y) | -18.8% | -19.0% |
| Market cap | – | – |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 1.09% | 0.00% |
| Expense ratio | 0.03% | – |
| Assets under management | $869.2B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | IVV | JCE |
|---|---|---|
| 2022 | -18.2% | -14.3% |
| 2023 | +26.3% | +10.7% |
| 2024 | +24.9% | +27.9% |
| 2025 | +17.8% | +9.1% |
| 2026 | +13.7% | +11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and JCE good diversifiers for each other?
No: a correlation of 0.84 means IVV and JCE tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between IVV and JCE?
As of 2026-08-27, the correlation of weekly returns between IVV and JCE is 0.84 over 3 years, 0.92 over 1 year and 0.61 over 5 years.
Is JCE a good diversifier for IVV?
No: a correlation of 0.84 means IVV and JCE tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 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/ivv-vs-jce.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ivv-vs-jce/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IVV correlations · JCE correlations
