RVT vs TSQ: Correlation
Royce Small-Cap Trust, Inc. (RVT) and Townsquare Media, Inc. (TSQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RVT and TSQ?
Across a 3-year window, the weekly returns of RVT and TSQ correlate at 0.51, moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.51 over 3. Stretching to 5 years gives 0.43, with an annualized covariance of 408.1 %².
Among the 116 assets we track against RVT, TSQ ranks #85 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RVT ahead by 32.8 points (+27.4% versus -5.4%). One caveat on sizing: TSQ is 2.2 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.
RVT vs TSQ: side by side
| RVT (Royce Small-Cap Trust, Inc.) | TSQ (Townsquare Media, Inc.) | |
|---|---|---|
| 1-year return | +27.4% | -5.4% |
| 5-year return | +53.9% | -37.3% |
| Volatility (ann.) | 19.1% | 41.8% |
| Beta vs S&P 500 | 0.99 | 1.17 |
| Max drawdown (3Y) | -23.5% | -61.7% |
| Market cap | $2.3B | $0.1B |
| P/E (trailing) | 6.5 | – |
| Dividend yield | 0.00% | 13.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RVT | TSQ |
|---|---|---|
| 2022 | -26.3% | -45.6% |
| 2023 | +18.8% | +57.3% |
| 2024 | +17.9% | -9.3% |
| 2025 | +11.5% | -37.4% |
| 2026 | +21.2% | +24.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RVT and TSQ good diversifiers for each other?
Only partially. A correlation of 0.51 means RVT and TSQ 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 TSQ?
As of 2026-08-27, the correlation of weekly returns between RVT and TSQ is 0.51 over 3 years, 0.55 over 1 year and 0.43 over 5 years.
Is TSQ a good diversifier for RVT?
Only partially. A correlation of 0.51 means RVT and TSQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 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-tsq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rvt-vs-tsq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RVT correlations · TSQ correlations
