SNA vs SPYV: Correlation
Measured on weekly returns over the past three years, Snap-on (SNA) and SPDR Portfolio S&P 500 Value ETF (SPYV) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNA and SPYV?
Over the past 3 years, SNA and SPYV moved with a correlation of 0.60, which is strong. The past 12 months show a weaker link (0.46) than the 3-year average (0.60). Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 153.5 %².
Among the 34 assets we track against SNA, SPYV ranks #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +23.1% for SNA and +18.5% for SPYV. The link looks structural: the rolling one-year correlation barely moved, holding between 0.46 and 0.70. Note the risk asymmetry: SNA runs 1.8 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.
SNA vs SPYV: side by side
| SNA (Snap-on) | SPYV (SPDR Portfolio S&P 500 Value ETF) | |
|---|---|---|
| 1-year return | +23.1% | +18.5% |
| 5-year return | +99.6% | +73.5% |
| Volatility (ann.) | 21.3% | 12.1% |
| Beta vs S&P 500 | 0.70 | 0.70 |
| Max drawdown (3Y) | -20.8% | -17.5% |
| Market cap | $20.5B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 2.38% | 1.69% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $36.2B |
| Sector / category | Industrials | 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 | SNA | SPYV |
|---|---|---|
| 2022 | +8.9% | -5.3% |
| 2023 | +29.7% | +22.2% |
| 2024 | +20.7% | +12.2% |
| 2025 | +4.3% | +13.2% |
| 2026 | +17.1% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.07% of SPYV is SNA itself, so the fund partly moves with the stock by construction.
Are SNA and SPYV good diversifiers for each other?
Only partially. A correlation of 0.60 means SNA 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 SNA and SPYV?
As of 2026-08-27, the correlation of weekly returns between SNA and SPYV is 0.60 over 3 years, 0.46 over 1 year and 0.64 over 5 years.
Is SPYV a good diversifier for SNA?
Only partially. A correlation of 0.60 means SNA 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 0.60 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/sna-vs-spyv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sna-vs-spyv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SNA correlations · SPYV correlations
