SHOP vs VTI: Correlation
Measured on weekly returns over the past three years, Shopify Inc. - Class A Subordinate Voting Shares (SHOP) and Vanguard Total Stock Market ETF (VTI) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHOP and VTI?
On 3 years of weekly data the SHOP/VTI correlation comes out at 0.58, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.58 over 3. The 5-year figure is 0.63, and annualized covariance runs at 516.7 %².
Among the 20 assets we track against SHOP, VTI ranks #5 by 3-year correlation. On 12-month performance VTI holds a 10.4-point edge, +10.3% against +20.7%. Risk is not evenly split, since SHOP carries 4.2 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.
SHOP vs VTI: side by side
| SHOP (Shopify Inc. - Class A Subordinate Voting Shares) | VTI (Vanguard Total Stock Market ETF) | |
|---|---|---|
| 1-year return | +10.3% | +20.7% |
| 5-year return | -0.4% | +74.8% |
| Volatility (ann.) | 61.1% | 14.6% |
| Beta vs S&P 500 | 2.40 | 1.01 |
| Max drawdown (3Y) | -46.7% | -19.3% |
| Market cap | $200.3B | – |
| P/E (trailing) | 102.2 | – |
| Dividend yield | 0.00% | 1.06% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $2,290.0B |
| Sector / category | US Listed | ETF · US Large Cap |
VTI, Vanguard's Large Blend fund, carries $2,290.0B under management, 3140 holdings, a 0.03% expense ratio, a 1.06% trailing dividend yield.
Year-by-year returns
| Year | SHOP | VTI |
|---|---|---|
| 2022 | -74.8% | -19.5% |
| 2023 | +124.4% | +26.0% |
| 2024 | +36.5% | +23.8% |
| 2025 | +51.4% | +17.1% |
| 2026 | -4.1% | +14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHOP and VTI good diversifiers for each other?
Only partially. A correlation of 0.58 means SHOP and VTI 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 SHOP and VTI?
As of 2026-08-27, the correlation of weekly returns between SHOP and VTI is 0.58 over 3 years, 0.51 over 1 year and 0.63 over 5 years.
Is VTI a good diversifier for SHOP?
Only partially. A correlation of 0.58 means SHOP and VTI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 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/shop-vs-vti.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/shop-vs-vti/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SHOP correlations · VTI correlations
