PFG vs SPYV: Correlation
How closely do Principal Financial Group (PFG) and SPDR Portfolio S&P 500 Value ETF (SPYV) trade together? Their weekly returns over three years give a correlation of 0.72, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFG and SPYV?
Over the past 3 years, PFG and SPYV moved with a correlation of 0.72, which is strong. The link has loosened recently: the 1-year correlation (0.51) runs below the 3-year figure (0.72). Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 199.2 %².
Within PFG's tracked universe of 32 assets, SPYV comes in at #5 by 3-year correlation. The last year tells two different stories: PFG led by 25.4 percentage points, +43.9% for PFG against +18.5% for SPYV. Across three years, the rolling one-year figure varied moderately, from 0.51 to 0.82. One caveat on sizing: PFG is 1.9 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.
PFG vs SPYV: side by side
| PFG (Principal Financial Group) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +43.9% | +18.5% |
| 5-year return | +99.7% | +73.5% |
| Volatility (ann.) | 22.9% | 12.1% |
| Beta vs S&P 500 | 0.88 | 0.70 |
| Max drawdown (3Y) | -22.4% | -17.5% |
| Market cap | $24.0B | – |
| P/E (trailing) | 16.0 | – |
| Dividend yield | 2.84% | 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 | PFG | SPYV |
|---|---|---|
| 2022 | +20.1% | -5.3% |
| 2023 | -2.8% | +22.2% |
| 2024 | +1.9% | +12.2% |
| 2025 | +18.4% | +13.2% |
| 2026 | +29.3% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPYV holds PFG at a 0.07% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are PFG and SPYV good diversifiers for each other?
Only partially. A correlation of 0.72 means PFG and SPYV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between PFG and SPYV?
The PFG/SPYV correlation stands at 0.72 on a 3-year window (1 year: 0.51, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is SPYV a good diversifier for PFG?
Only partially. A correlation of 0.72 means PFG and SPYV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 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/pfg-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pfg-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PFG correlations · SPYV correlations
