JPM vs VYM: Correlation
Measured on weekly returns over the past three years, JPMorgan Chase (JPM) and Vanguard High Dividend Yield ETF (VYM) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JPM and VYM?
On 3 years of weekly data the JPM/VYM correlation comes out at 0.73, strong. The link has loosened recently: the 1-year correlation (0.54) runs below the 3-year figure (0.73). The 5-year figure is 0.75, and annualized covariance runs at 208.2 %².
Within JPM's tracked universe of 36 assets, VYM comes in at #9 by 3-year correlation. Their 12-month results are close: +20.6% for JPM against +21.1% for VYM. On a rolling one-year basis the correlation drifted between 0.53 and 0.84, 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 VYM: side by side
| JPM (JPMorgan Chase) | VYM (Vanguard High Dividend Yield ETF) | |
|---|---|---|
| 1-year return | +20.6% | +21.1% |
| 5-year return | +150.2% | +76.6% |
| Volatility (ann.) | 23.2% | 12.3% |
| Beta vs S&P 500 | 1.01 | 0.69 |
| Max drawdown (3Y) | -24.4% | -14.5% |
| Market cap | $941.6B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 1.68% | 2.24% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $99.2B |
| Sector / category | Financials | ETF · Dividend |
VYM, Vanguard's Large Value fund, carries $99.2B under management, 604 holdings, a 0.04% expense ratio, a 2.24% trailing dividend yield.
Year-by-year returns
| Year | JPM | VYM |
|---|---|---|
| 2022 | -12.6% | -0.4% |
| 2023 | +30.6% | +6.6% |
| 2024 | +44.3% | +17.6% |
| 2025 | +37.3% | +15.4% |
| 2026 | +11.5% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 3.83% of VYM is JPM itself, so the fund partly moves with the stock by construction.
Are JPM and VYM good diversifiers for each other?
Only partially. A correlation of 0.73 means JPM and VYM 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 VYM?
As of 2026-08-27, the correlation of weekly returns between JPM and VYM is 0.73 over 3 years, 0.54 over 1 year and 0.75 over 5 years.
Is VYM a good diversifier for JPM?
Only partially. A correlation of 0.73 means JPM and VYM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: JPM correlations · VYM correlations
