MDT vs VTV: Correlation
Medtronic (MDT) and Vanguard Value ETF (VTV) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDT and VTV?
Across a 3-year window, the weekly returns of MDT and VTV correlate at 0.47, moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.47). Stretching to 5 years gives 0.50, with an annualized covariance of 116.3 %².
By 3-year correlation, VTV places #13 of the 34 assets tracked against MDT. Correlation aside, the last 12 months split them widely, with VTV ahead by 24.8 points (+0.9% versus +25.7%). The rolling one-year correlation moved between 0.27 and 0.67 over the past three years, a moderate range. One caveat on sizing: MDT is 1.8 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.
MDT vs VTV: side by side
| MDT (Medtronic) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +0.9% | +25.7% |
| 5-year return | -21.4% | +79.1% |
| Volatility (ann.) | 21.0% | 11.9% |
| Beta vs S&P 500 | 0.37 | 0.65 |
| Max drawdown (3Y) | -28.9% | -14.5% |
| Market cap | $115.2B | – |
| P/E (trailing) | 24.1 | – |
| Dividend yield | 3.09% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | Health Care | ETF · US Style |
On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Year-by-year returns
| Year | MDT | VTV |
|---|---|---|
| 2022 | -22.6% | -2.1% |
| 2023 | +9.6% | +9.3% |
| 2024 | +0.3% | +16.0% |
| 2025 | +24.0% | +15.3% |
| 2026 | -4.7% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.41% of VTV is MDT itself, so the fund partly moves with the stock by construction.
Are MDT and VTV good diversifiers for each other?
Reasonably. At 0.47, MDT and VTV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MDT and VTV?
The MDT/VTV correlation stands at 0.47 on a 3-year window (1 year: 0.29, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is VTV a good diversifier for MDT?
Reasonably. At 0.47, MDT and VTV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 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: MDT correlations · VTV correlations
