RVT vs SPHR: Correlation
How closely do Royce Small-Cap Trust, Inc. (RVT) and Sphere Entertainment Co. (SPHR) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RVT and SPHR?
Across a 3-year window, the weekly returns of RVT and SPHR correlate at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 490.5 %².
Within RVT's tracked universe of 116 assets, SPHR comes in at #87 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPHR outperformed by 215.3 percentage points (+27.4% for RVT against +242.7% for SPHR). Note the risk asymmetry: SPHR runs 2.7 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.
RVT vs SPHR: side by side
| RVT (Royce Small-Cap Trust, Inc.) | SPHR (Sphere Entertainment Co.) | |
|---|---|---|
| 1-year return | +27.4% | +242.7% |
| 5-year return | +53.9% | +308.6% |
| Volatility (ann.) | 19.1% | 51.1% |
| Beta vs S&P 500 | 0.99 | 1.54 |
| Max drawdown (3Y) | -23.5% | -52.3% |
| Market cap | $2.3B | $5.3B |
| P/E (trailing) | 6.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RVT | SPHR |
|---|---|---|
| 2022 | -26.3% | -36.1% |
| 2023 | +18.8% | +63.5% |
| 2024 | +17.9% | +18.7% |
| 2025 | +11.5% | +135.8% |
| 2026 | +21.2% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RVT and SPHR good diversifiers for each other?
Only partially. A correlation of 0.50 means RVT and SPHR 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 RVT and SPHR?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.47 over the last year and 0.47 over 5 years.
Is SPHR a good diversifier for RVT?
Only partially. A correlation of 0.50 means RVT and SPHR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 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/rvt-vs-sphr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rvt-vs-sphr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RVT correlations · SPHR correlations
