MLP vs VTV: Correlation
Maui Land & Pineapple Company, Inc. (MLP) and Vanguard Value ETF (VTV) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLP and VTV?
Over the past 3 years, MLP and VTV moved with a correlation of 0.48, which is moderate. The past 12 months show a weaker link (0.37) than the 3-year average (0.48). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 226.2 %².
By 3-year correlation, VTV places #5 of the 10 assets tracked against MLP. Correlation aside, the last 12 months split them widely, with VTV ahead by 33.9 points (-8.2% versus +25.7%). Risk is not evenly split, since MLP carries 3.3 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.
MLP vs VTV: side by side
| MLP (Maui Land & Pineapple Company, Inc.) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | -8.2% | +25.7% |
| 5-year return | +43.7% | +79.1% |
| Volatility (ann.) | 39.6% | 11.9% |
| Beta vs S&P 500 | 1.03 | 0.65 |
| Max drawdown (3Y) | -45.5% | -14.5% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | US Listed | 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 | MLP | VTV |
|---|---|---|
| 2022 | -5.4% | -2.1% |
| 2023 | +68.7% | +9.3% |
| 2024 | +38.3% | +16.0% |
| 2025 | -22.9% | +15.3% |
| 2026 | -6.5% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLP and VTV good diversifiers for each other?
Reasonably. At 0.48, MLP and VTV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MLP and VTV?
The MLP/VTV correlation stands at 0.48 on a 3-year window (1 year: 0.37, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is VTV a good diversifier for MLP?
Reasonably. At 0.48, MLP and VTV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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: MLP correlations · VTV correlations
