MMM vs SPYV: Correlation
3M (MMM) and SPDR Portfolio S&P 500 Value ETF (SPYV) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMM and SPYV?
Over the past 3 years, MMM and SPYV moved with a correlation of 0.57, which is moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 204.9 %².
By 3-year correlation, SPYV places #7 of the 34 assets tracked against MMM. Their 12-month results are close: +16.4% for MMM against +18.5% for SPYV. Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.78. Risk is not evenly split, since MMM carries 2.5 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.
MMM vs SPYV: side by side
| MMM (3M) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +16.4% | +18.5% |
| 5-year return | +29.9% | +73.5% |
| Volatility (ann.) | 29.8% | 12.1% |
| Beta vs S&P 500 | 0.89 | 0.70 |
| Max drawdown (3Y) | -20.7% | -17.5% |
| Market cap | $92.2B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 1.68% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | Industrials | 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 | MMM | SPYV |
|---|---|---|
| 2022 | -29.6% | -5.3% |
| 2023 | -3.3% | +22.2% |
| 2024 | +46.1% | +12.2% |
| 2025 | +26.4% | +13.2% |
| 2026 | +13.3% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
MMM represents 0.31% of SPYV's portfolio, so part of any move in SPYV is MMM itself, and the correlation between them is partly mechanical.
Are MMM and SPYV good diversifiers for each other?
Only partially. A correlation of 0.57 means MMM 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 MMM and SPYV?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.58 over the last year and 0.63 over 5 years.
Is SPYV a good diversifier for MMM?
Only partially. A correlation of 0.57 means MMM 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 0.57 mean?
On the −1 to +1 scale, 0.57 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/mmm-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mmm-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MMM correlations · SPYV correlations
