LIN vs SPYV: Correlation
Measured on weekly returns over the past three years, Linde plc (LIN) and SPDR Portfolio S&P 500 Value ETF (SPYV) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LIN and SPYV?
Across a 3-year window, the weekly returns of LIN and SPYV correlate at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.18) runs below the 3-year figure (0.49). Stretching to 5 years gives 0.57, with an annualized covariance of 98.1 %².
By 3-year correlation, SPYV places #6 of the 36 assets tracked against LIN. The last year tells two different stories: SPYV led by 16.6 percentage points, +1.9% for LIN against +18.5% for SPYV. The relationship is regime-dependent: the rolling one-year correlation swung between 0.20 and 0.77 over the past three years, so this pair behaves very differently depending on the market environment.
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.
LIN vs SPYV: side by side
| LIN (Linde plc) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +1.9% | +18.5% |
| 5-year return | +64.6% | +73.5% |
| Volatility (ann.) | 16.5% | 12.1% |
| Beta vs S&P 500 | 0.37 | 0.70 |
| Max drawdown (3Y) | -19.2% | -17.5% |
| Market cap | $223.7B | – |
| P/E (trailing) | 31.6 | – |
| Dividend yield | 1.26% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | Materials | 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 | LIN | SPYV |
|---|---|---|
| 2022 | -4.4% | -5.3% |
| 2023 | +27.7% | +22.2% |
| 2024 | +3.2% | +12.2% |
| 2025 | +3.2% | +13.2% |
| 2026 | +14.6% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.75% of SPYV is LIN itself, so the fund partly moves with the stock by construction.
Are LIN and SPYV good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LIN and SPYV?
As of 2026-08-27, the correlation of weekly returns between LIN and SPYV is 0.49 over 3 years, 0.18 over 1 year and 0.57 over 5 years.
Is SPYV a good diversifier for LIN?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 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/lin-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lin-vs-spyv/)
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Related comparisons
Hubs: LIN correlations · SPYV correlations
