LVS vs VWO: Correlation
Las Vegas Sands (LVS) and Vanguard FTSE Emerging Markets ETF (VWO) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LVS and VWO?
Over the past 3 years, LVS and VWO moved with a correlation of 0.42, which is moderate. The link has loosened recently: the 1-year correlation (0.23) runs below the 3-year figure (0.42). Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 219.3 %².
Within LVS's tracked universe of 29 assets, VWO comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VWO ahead by 41.9 points (-20.3% versus +21.6%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.22 and 0.75 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: LVS is 2.3 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.
LVS vs VWO: side by side
| LVS (Las Vegas Sands) | VWO (Vanguard FTSE Emerging Markets ETF) | |
|---|---|---|
| 1-year return | -20.3% | +21.6% |
| 5-year return | +8.5% | +38.2% |
| Volatility (ann.) | 34.8% | 15.2% |
| Beta vs S&P 500 | 0.75 | 0.75 |
| Max drawdown (3Y) | -44.0% | -17.4% |
| Market cap | $28.7B | – |
| P/E (trailing) | 17.1 | – |
| Dividend yield | 2.49% | 2.36% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $162.0B |
| Sector / category | Consumer Discretionary | ETF · International |
On the fund side, VWO sits in the Diversified Emerging Mkts category at Vanguard, with $162.0B under management, 4113 holdings, a 0.06% expense ratio, a 2.36% trailing dividend yield.
Year-by-year returns
| Year | LVS | VWO |
|---|---|---|
| 2022 | +27.7% | -18.0% |
| 2023 | +3.1% | +9.3% |
| 2024 | +6.2% | +10.6% |
| 2025 | +29.5% | +25.6% |
| 2026 | -30.8% | +13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LVS and VWO good diversifiers for each other?
Reasonably. At 0.42, LVS and VWO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LVS and VWO?
As of 2026-08-27, the correlation of weekly returns between LVS and VWO is 0.42 over 3 years, 0.23 over 1 year and 0.51 over 5 years.
Is VWO a good diversifier for LVS?
Reasonably. At 0.42, LVS and VWO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/lvs-vs-vwo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lvs-vs-vwo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LVS correlations · VWO correlations
