MCO vs SPYV: Correlation
Measured on weekly returns over the past three years, Moody's Corporation (MCO) and SPDR Portfolio S&P 500 Value ETF (SPYV) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCO and SPYV?
Across a 3-year window, the weekly returns of MCO and SPYV correlate at 0.61, strong. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.61). Stretching to 5 years gives 0.68, with an annualized covariance of 190.6 %².
Among the 53 assets we track against MCO, SPYV ranks #15 by 3-year correlation. The last year tells two different stories: SPYV led by 17.8 percentage points, +0.7% for MCO against +18.5% for SPYV. This link changes with the market regime, having swung between 0.30 and 0.85 on a rolling one-year basis. Note the risk asymmetry: MCO runs 2.1 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.
MCO vs SPYV: side by side
| MCO (Moody's Corporation) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +0.7% | +18.5% |
| 5-year return | +39.4% | +73.5% |
| Volatility (ann.) | 25.8% | 12.1% |
| Beta vs S&P 500 | 1.08 | 0.70 |
| Max drawdown (3Y) | -24.7% | -17.5% |
| Market cap | $88.2B | – |
| P/E (trailing) | 32.7 | – |
| Dividend yield | 0.77% | 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 | MCO | SPYV |
|---|---|---|
| 2022 | -28.0% | -5.3% |
| 2023 | +41.5% | +22.2% |
| 2024 | +22.2% | +12.2% |
| 2025 | +8.7% | +13.2% |
| 2026 | +0.3% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
MCO represents 0.13% of SPYV's portfolio, so part of any move in SPYV is MCO itself, and the correlation between them is partly mechanical.
Are MCO and SPYV good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MCO and SPYV?
The MCO/SPYV correlation stands at 0.61 on a 3-year window (1 year: 0.28, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is SPYV a good diversifier for MCO?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 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
$ curl https://www.pairbook.io/api/v1/pairs/mco-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mco-vs-spyv/)
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Related comparisons
Hubs: MCO correlations · SPYV correlations
