MA vs SPYV: Correlation
How closely do Mastercard (MA) and SPDR Portfolio S&P 500 Value ETF (SPYV) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MA and SPYV?
Across a 3-year window, the weekly returns of MA and SPYV correlate at 0.62, strong. The past 12 months show a weaker link (0.49) than the 3-year average (0.62). Stretching to 5 years gives 0.67, with an annualized covariance of 144.8 %².
Among the 46 assets we track against MA, SPYV ranks #9 by 3-year correlation. The last year tells two different stories: SPYV led by 17.7 percentage points, +0.8% for MA against +18.5% for SPYV. On a rolling one-year basis the correlation drifted between 0.36 and 0.83, a moderate band. Risk is not evenly split, since MA carries 1.6 times the volatility of the other side.
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.
MA vs SPYV: side by side
| MA (Mastercard) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +0.8% | +18.5% |
| 5-year return | +72.6% | +73.5% |
| Volatility (ann.) | 19.3% | 12.1% |
| Beta vs S&P 500 | 0.77 | 0.70 |
| Max drawdown (3Y) | -20.9% | -17.5% |
| Market cap | $518.4B | – |
| P/E (trailing) | 32.9 | – |
| Dividend yield | 0.56% | 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 | MA | SPYV |
|---|---|---|
| 2022 | -2.7% | -5.3% |
| 2023 | +23.4% | +22.2% |
| 2024 | +24.2% | +12.2% |
| 2025 | +9.0% | +13.2% |
| 2026 | +4.2% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
MA represents 0.53% of SPYV's portfolio, so part of any move in SPYV is MA itself, and the correlation between them is partly mechanical.
Are MA and SPYV good diversifiers for each other?
Only partially. A correlation of 0.62 means MA 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 MA and SPYV?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.49 over the last year and 0.67 over 5 years.
Is SPYV a good diversifier for MA?
Only partially. A correlation of 0.62 means MA 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 0.62 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.
Use this data
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Related comparisons
Hubs: MA correlations · SPYV correlations
