SPY vs VVR: Correlation
How closely do SPDR S&P 500 ETF Trust (SPY) and Invesco Senior Income Trust (VVR) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPY and VVR?
Across a 3-year window, the weekly returns of SPY and VVR correlate at 0.31, moderate. The link has loosened recently: the 1-year correlation (0.20) runs below the 3-year figure (0.31). Stretching to 5 years gives 0.33, with an annualized covariance of 67.9 %².
Among the 4755 assets we track against SPY, VVR ranks #2135 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPY ahead by 28.9 points (+20.6% versus -8.3%).
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.
SPY vs VVR: side by side
| SPY (SPDR S&P 500 ETF Trust) | VVR (Invesco Senior Income Trust) | |
|---|---|---|
| 1-year return | +20.6% | -8.3% |
| 5-year return | +82.4% | +22.0% |
| Volatility (ann.) | 14.5% | 15.0% |
| Beta vs S&P 500 | 1.00 | 0.32 |
| Max drawdown (3Y) | -18.8% | -19.5% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 32.3 |
| Dividend yield | 1.01% | 15.51% |
| Expense ratio | 0.09% | – |
| Assets under management | $795.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
SPY, State Street Investment Management's Large Blend fund, carries $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | SPY | VVR |
|---|---|---|
| 2022 | -18.2% | -1.1% |
| 2023 | +26.2% | +20.9% |
| 2024 | +24.9% | +9.0% |
| 2025 | +17.7% | -6.2% |
| 2026 | +13.7% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPY and VVR good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SPY and VVR?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.20 over the last year and 0.33 over 5 years.
Is VVR a good diversifier for SPY?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 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/spy-vs-vvr.json
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Related comparisons
Hubs: SPY correlations · VVR correlations
