JPM vs SPYV: Correlation
JPMorgan Chase (JPM) and SPDR Portfolio S&P 500 Value ETF (SPYV) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JPM and SPYV?
Over the past 3 years, JPM and SPYV moved with a correlation of 0.71, which is strong. The past 12 months show a weaker link (0.50) than the 3-year average (0.71). Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 199.4 %².
By 3-year correlation, SPYV places #11 of the 36 assets tracked against JPM. Neither side won the trailing year by much: +20.6% against +18.5%. On a rolling one-year basis the correlation drifted between 0.49 and 0.83, a moderate band. Note the risk asymmetry: JPM runs 1.9 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.
JPM vs SPYV: side by side
| JPM (JPMorgan Chase) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +20.6% | +18.5% |
| 5-year return | +150.2% | +73.5% |
| Volatility (ann.) | 23.2% | 12.1% |
| Beta vs S&P 500 | 1.01 | 0.70 |
| Max drawdown (3Y) | -24.4% | -17.5% |
| Market cap | $941.6B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 1.68% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | Financials | ETF · US Style |
SPYV, State Street Investment Management's Large Value fund, carries $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% trailing dividend yield.
Year-by-year returns
| Year | JPM | SPYV |
|---|---|---|
| 2022 | -12.6% | -5.3% |
| 2023 | +30.6% | +22.2% |
| 2024 | +44.3% | +12.2% |
| 2025 | +37.3% | +13.2% |
| 2026 | +11.5% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
JPM represents 1.01% of SPYV's portfolio, so part of any move in SPYV is JPM itself, and the correlation between them is partly mechanical.
Are JPM and SPYV good diversifiers for each other?
Only partially. A correlation of 0.71 means JPM and SPYV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between JPM and SPYV?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.50 over the last year and 0.73 over 5 years.
Is SPYV a good diversifier for JPM?
Only partially. A correlation of 0.71 means JPM and SPYV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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/jpm-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/jpm-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JPM correlations · SPYV correlations
