IVV vs NTAP: Correlation
iShares Core S&P 500 ETF (IVV) and NetApp (NTAP) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and NTAP?
Across a 3-year window, the weekly returns of IVV and NTAP correlate at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.53 over 3 years. Stretching to 5 years gives 0.55, with an annualized covariance of 288.9 %².
Within IVV's tracked universe of 122 assets, NTAP comes in at #83 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NTAP ahead by 52.3 points (+20.7% versus +73.0%). Across three years, the rolling one-year figure varied moderately, from 0.33 to 0.73. Note the risk asymmetry: NTAP runs 2.6 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.
IVV vs NTAP: side by side
| IVV (iShares Core S&P 500 ETF) | NTAP (NetApp) | |
|---|---|---|
| 1-year return | +20.7% | +73.0% |
| 5-year return | +83.0% | +141.7% |
| Volatility (ann.) | 14.5% | 37.6% |
| Beta vs S&P 500 | 1.00 | 1.38 |
| Max drawdown (3Y) | -18.8% | -42.6% |
| Market cap | – | $37.4B |
| P/E (trailing) | – | 30.5 |
| Dividend yield | 1.09% | 1.07% |
| Expense ratio | 0.03% | – |
| Assets under management | $869.2B | – |
| Sector / category | ETF · US Large Cap | Information Technology |
IVV, iShares's Large Blend fund, carries $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | IVV | NTAP |
|---|---|---|
| 2022 | -18.2% | -32.9% |
| 2023 | +26.3% | +51.1% |
| 2024 | +24.9% | +34.2% |
| 2025 | +17.8% | -5.9% |
| 2026 | +13.7% | +80.3% |
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 NTAP at a 0.06% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are IVV and NTAP good diversifiers for each other?
To a limited degree. At 0.53 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 IVV and NTAP?
The IVV/NTAP correlation stands at 0.53 on a 3-year window (1 year: 0.38, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is NTAP a good diversifier for IVV?
To a limited degree. At 0.53 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 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ivv-vs-ntap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ivv-vs-ntap/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IVV correlations · NTAP correlations
