MSGE vs RVT: Correlation
Madison Square Garden Entertainment Corp. (MSGE) and Royce Small-Cap Trust, Inc. (RVT) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSGE and RVT?
Over the past 3 years, MSGE and RVT moved with a correlation of 0.54, which is moderate. The past 12 months show a weaker link (0.43) than the 3-year average (0.54). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 308.5 %².
Among the 12 assets we track against MSGE, RVT ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MSGE ahead by 70.9 points (+98.3% versus +27.4%). One caveat on sizing: MSGE is 1.6 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.
MSGE vs RVT: side by side
| MSGE (Madison Square Garden Entertainment Corp.) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +98.3% | +27.4% |
| 5-year return | n/a | +53.9% |
| Volatility (ann.) | 30.2% | 19.1% |
| Beta vs S&P 500 | 0.87 | 0.99 |
| Max drawdown (3Y) | -33.9% | -23.5% |
| Market cap | $3.7B | $2.3B |
| P/E (trailing) | 56.6 | 6.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MSGE | RVT |
|---|---|---|
| 2022 | – | -26.3% |
| 2023 | – | +18.8% |
| 2024 | +12.0% | +17.9% |
| 2025 | +51.4% | +11.5% |
| 2026 | +45.0% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSGE and RVT good diversifiers for each other?
To a limited degree. At 0.54 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 MSGE and RVT?
The MSGE/RVT correlation stands at 0.54 on a 3-year window (1 year: 0.43, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RVT a good diversifier for MSGE?
To a limited degree. At 0.54 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 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: MSGE correlations · RVT correlations
