PPLI vs RVT: Correlation
How closely do People Incorporated (PPLI) and Royce Small-Cap Trust, Inc. (RVT) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPLI and RVT?
On 3 years of weekly data the PPLI/RVT correlation comes out at 0.57, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.57 over 3. The 5-year figure is 0.54, and annualized covariance runs at 347.2 %².
In PPLI's tracked universe of 14 assets, RVT sits right near the top at #3. The last year tells two different stories: RVT led by 20.4 percentage points, +7.0% for PPLI against +27.4% for RVT. Note the risk asymmetry: PPLI runs 1.7 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.
PPLI vs RVT: side by side
| PPLI (People Incorporated) | RVT (Royce Small-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +7.0% | +27.4% |
| 5-year return | -63.8% | +53.9% |
| Volatility (ann.) | 32.1% | 19.1% |
| Beta vs S&P 500 | 0.98 | 0.99 |
| Max drawdown (3Y) | -33.4% | -23.5% |
| Market cap | $2.9B | $2.3B |
| P/E (trailing) | 6.6 | 6.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PPLI | RVT |
|---|---|---|
| 2022 | -66.0% | -26.3% |
| 2023 | +18.0% | +18.8% |
| 2024 | -17.6% | +17.9% |
| 2025 | +10.5% | +11.5% |
| 2026 | +0.6% | +21.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PPLI and RVT good diversifiers for each other?
To a limited degree. At 0.57 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 PPLI and RVT?
As of 2026-08-27, the correlation of weekly returns between PPLI and RVT is 0.57 over 3 years, 0.50 over 1 year and 0.54 over 5 years.
Is RVT a good diversifier for PPLI?
To a limited degree. At 0.57 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 0.57 mean?
On the −1 to +1 scale, 0.57 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/ppli-vs-rvt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ppli-vs-rvt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PPLI correlations · RVT correlations
