MMM vs VYM: Correlation
How closely do 3M (MMM) and Vanguard High Dividend Yield ETF (VYM) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMM and VYM?
On 3 years of weekly data the MMM/VYM correlation comes out at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. The 5-year figure is 0.63, and annualized covariance runs at 212.3 %².
By 3-year correlation, VYM places #4 of the 34 assets tracked against MMM. Neither side won the trailing year by much: +16.4% against +21.1%. Across three years, the rolling one-year figure varied moderately, from 0.32 to 0.79. Risk is not evenly split, since MMM carries 2.4 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 VYM: side by side
| MMM (3M) | VYM (Vanguard High Dividend Yield ETF) | |
|---|---|---|
| 1-year return | +16.4% | +21.1% |
| 5-year return | +29.9% | +76.6% |
| Volatility (ann.) | 29.8% | 12.3% |
| Beta vs S&P 500 | 0.89 | 0.69 |
| Max drawdown (3Y) | -20.7% | -14.5% |
| Market cap | $92.2B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 1.68% | 2.24% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $99.2B |
| Sector / category | Industrials | ETF · Dividend |
VYM, Vanguard's Large Value fund, carries $99.2B under management, 604 holdings, a 0.04% expense ratio, a 2.24% trailing dividend yield.
Year-by-year returns
| Year | MMM | VYM |
|---|---|---|
| 2022 | -29.6% | -0.4% |
| 2023 | -3.3% | +6.6% |
| 2024 | +46.1% | +17.6% |
| 2025 | +26.4% | +15.4% |
| 2026 | +13.3% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that VYM holds MMM at a 0.37% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MMM and VYM good diversifiers for each other?
To a limited degree. At 0.58 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 MMM and VYM?
The MMM/VYM correlation stands at 0.58 on a 3-year window (1 year: 0.66, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is VYM a good diversifier for MMM?
To a limited degree. At 0.58 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 0.58 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.
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Related comparisons
Hubs: MMM correlations · VYM correlations
