ONON vs VTI: Correlation
Measured on weekly returns over the past three years, On Holding AG Class A (ONON) and Vanguard Total Stock Market ETF (VTI) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ONON and VTI?
On 3 years of weekly data the ONON/VTI correlation comes out at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 326.4 %².
VTI is one of the assets that tracks ONON most closely: it ranks #2 out of the 14 assets we track against ONON. Their recent paths diverged sharply: over the last 12 months VTI outperformed by 56.6 percentage points (-35.9% for ONON against +20.7% for VTI). Risk is not evenly split, since ONON carries 3.1 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.
ONON vs VTI: side by side
| ONON (On Holding AG Class A) | VTI (Vanguard Total Stock Market ETF) | |
|---|---|---|
| 1-year return | -35.9% | +20.7% |
| 5-year return | -17.3% | +74.8% |
| Volatility (ann.) | 44.7% | 14.6% |
| Beta vs S&P 500 | 1.51 | 1.01 |
| Max drawdown (3Y) | -54.7% | -19.3% |
| Market cap | $9.7B | – |
| P/E (trailing) | 19.7 | – |
| Dividend yield | 0.00% | 1.06% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $2,290.0B |
| Sector / category | US Listed | ETF · US Large Cap |
VTI, Vanguard's Large Blend fund, carries $2,290.0B under management, 3140 holdings, a 0.03% expense ratio, a 1.06% trailing dividend yield.
Year-by-year returns
| Year | ONON | VTI |
|---|---|---|
| 2022 | -54.6% | -19.5% |
| 2023 | +57.2% | +26.0% |
| 2024 | +103.1% | +23.8% |
| 2025 | -15.1% | +17.1% |
| 2026 | -37.7% | +14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ONON and VTI good diversifiers for each other?
To a limited degree. At 0.50 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 ONON and VTI?
The ONON/VTI correlation stands at 0.50 on a 3-year window (1 year: 0.46, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is VTI a good diversifier for ONON?
To a limited degree. At 0.50 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 0.50 mean?
On the −1 to +1 scale, 0.50 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/onon-vs-vti.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/onon-vs-vti/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ONON correlations · VTI correlations
