SPYV vs TXT: Correlation
How closely do SPDR Portfolio S&P 500 Value ETF (SPYV) and Textron (TXT) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPYV and TXT?
Across a 3-year window, the weekly returns of SPYV and TXT correlate at 0.65, strong. Lately the two have drifted apart, with the 1-year correlation at 0.52 versus 0.65 over 3 years. Stretching to 5 years gives 0.67, with an annualized covariance of 199.0 %².
By 3-year correlation, TXT places #57 of the 148 assets tracked against SPYV. The last year tells two different stories: SPYV led by 17.8 percentage points, +18.5% for SPYV against +0.7% for TXT. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.37 to 0.90. Risk is not evenly split, since TXT carries 2.1 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.
SPYV vs TXT: side by side
| SPYV (SPDR Portfolio S&P 500 Value ETF) | TXT (Textron) | |
|---|---|---|
| 1-year return | +18.5% | +0.7% |
| 5-year return | +73.5% | +15.1% |
| Volatility (ann.) | 12.1% | 25.4% |
| Beta vs S&P 500 | 0.70 | 0.89 |
| Max drawdown (3Y) | -17.5% | -37.3% |
| Market cap | – | $14.2B |
| P/E (trailing) | – | 15.7 |
| Dividend yield | 1.69% | 0.10% |
| Expense ratio | 0.04% | – |
| Assets under management | $36.2B | – |
| Sector / category | ETF · US Style | Industrials |
On the fund side, SPYV sits in the Large Value category at State Street Investment Management, with $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% trailing dividend yield.
Year-by-year returns
| Year | SPYV | TXT |
|---|---|---|
| 2022 | -5.3% | -8.2% |
| 2023 | +22.2% | +13.7% |
| 2024 | +12.2% | -4.8% |
| 2025 | +13.2% | +14.1% |
| 2026 | +12.7% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPYV and TXT good diversifiers for each other?
Only partially. A correlation of 0.65 means SPYV and TXT 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 SPYV and TXT?
The SPYV/TXT correlation stands at 0.65 on a 3-year window (1 year: 0.52, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is TXT a good diversifier for SPYV?
Only partially. A correlation of 0.65 means SPYV and TXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spyv-vs-txt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spyv-vs-txt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPYV correlations · TXT correlations
