IVV vs SNPS: Correlation
How closely do iShares Core S&P 500 ETF (IVV) and Synopsys (SNPS) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and SNPS?
Over the past 3 years, IVV and SNPS moved with a correlation of 0.54, which is moderate. The past 12 months show a weaker link (0.35) than the 3-year average (0.54). Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 328.9 %².
Within IVV's tracked universe of 122 assets, SNPS comes in at #81 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IVV ahead by 43.6 points (+20.7% versus -22.9%). This link changes with the market regime, having swung between 0.28 and 0.82 on a rolling one-year basis. One caveat on sizing: SNPS is 2.9 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.
IVV vs SNPS: side by side
| IVV (iShares Core S&P 500 ETF) | SNPS (Synopsys) | |
|---|---|---|
| 1-year return | +20.7% | -22.9% |
| 5-year return | +83.0% | +39.1% |
| Volatility (ann.) | 14.5% | 42.2% |
| Beta vs S&P 500 | 1.00 | 1.57 |
| Max drawdown (3Y) | -18.8% | -42.3% |
| Market cap | – | $89.1B |
| P/E (trailing) | – | 71.4 |
| Dividend yield | 1.09% | 0.00% |
| Expense ratio | 0.03% | – |
| Assets under management | $869.2B | – |
| Sector / category | ETF · US Large Cap | Information Technology |
On the fund side, IVV sits in the Large Blend category at iShares, with $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | IVV | SNPS |
|---|---|---|
| 2022 | -18.2% | -13.4% |
| 2023 | +26.3% | +61.3% |
| 2024 | +24.9% | -5.7% |
| 2025 | +17.8% | -3.2% |
| 2026 | +13.7% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
SNPS represents 0.12% of IVV's portfolio, so part of any move in IVV is SNPS itself, and the correlation between them is partly mechanical.
Are IVV and SNPS good diversifiers for each other?
To a limited degree. At 0.54 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 SNPS?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.35 over the last year and 0.58 over 5 years.
Is SNPS a good diversifier for IVV?
To a limited degree. At 0.54 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 0.54 mean?
A reading of 0.54 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
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Related comparisons
Hubs: IVV correlations · SNPS correlations
