MS vs SPYV: Correlation
Measured on weekly returns over the past three years, Morgan Stanley (MS) and SPDR Portfolio S&P 500 Value ETF (SPYV) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MS and SPYV?
Across a 3-year window, the weekly returns of MS and SPYV correlate at 0.76, strong. The link has loosened recently: the 1-year correlation (0.57) runs below the 3-year figure (0.76). Stretching to 5 years gives 0.72, with an annualized covariance of 260.7 %².
Within MS's tracked universe of 46 assets, SPYV comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MS ahead by 28.6 points (+47.1% versus +18.5%). On a rolling one-year basis the correlation drifted between 0.57 and 0.85, a moderate band. Note the risk asymmetry: MS runs 2.3 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.
MS vs SPYV: side by side
| MS (Morgan Stanley) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +47.1% | +18.5% |
| 5-year return | +142.0% | +73.5% |
| Volatility (ann.) | 28.3% | 12.1% |
| Beta vs S&P 500 | 1.43 | 0.70 |
| Max drawdown (3Y) | -29.2% | -17.5% |
| Market cap | $337.5B | – |
| P/E (trailing) | 17.4 | – |
| Dividend yield | 1.94% | 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 | MS | SPYV |
|---|---|---|
| 2022 | -10.3% | -5.3% |
| 2023 | +13.9% | +22.2% |
| 2024 | +39.7% | +12.2% |
| 2025 | +45.2% | +13.2% |
| 2026 | +23.0% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.33% of SPYV is MS itself, so the fund partly moves with the stock by construction.
Are MS and SPYV good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MS and SPYV?
The MS/SPYV correlation stands at 0.76 on a 3-year window (1 year: 0.57, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is SPYV a good diversifier for MS?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 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/ms-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ms-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MS correlations · SPYV correlations
