PAPL vs VCV: Correlation
Pineapple Financial Inc. (PAPL) and Invesco California Value Municipal Income Trust (VCV) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAPL and VCV?
Over the past 3 years, PAPL and VCV moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.17 versus -0.31 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -699.0 %².
Out of 51 assets tracked against PAPL, VCV lands near the bottom at #51. Correlation aside, the last 12 months split them widely, with VCV ahead by 81.2 points (-70.7% versus +10.5%). Risk is not evenly split, since PAPL carries 13.3 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.
PAPL vs VCV: side by side
| PAPL (Pineapple Financial Inc.) | VCV (Invesco California Value Municipal Income Trust) | |
|---|---|---|
| 1-year return | -70.7% | +10.5% |
| 5-year return | n/a | -0.3% |
| Volatility (ann.) | 181.2% | 13.6% |
| Beta vs S&P 500 | -0.73 | 0.24 |
| Max drawdown (3Y) | -99.4% | -13.3% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 40.4 |
| Dividend yield | 0.00% | 7.38% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAPL | VCV |
|---|---|---|
| 2022 | – | -28.4% |
| 2023 | – | +7.9% |
| 2024 | -74.7% | +18.7% |
| 2025 | -84.4% | +9.5% |
| 2026 | -25.5% | -0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAPL and VCV good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PAPL and VCV?
The PAPL/VCV correlation stands at -0.31 on a 3-year window (1 year: -0.17, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VCV a good diversifier for PAPL?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
A reading of -0.31 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
$ curl https://www.pairbook.io/api/v1/pairs/papl-vs-vcv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/papl-vs-vcv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PAPL correlations · VCV correlations
