SPYV vs VTRS: Correlation
How closely do SPDR Portfolio S&P 500 Value ETF (SPYV) and Viatris (VTRS) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPYV and VTRS?
Over the past 3 years, SPYV and VTRS moved with a correlation of 0.51, which is moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 203.8 %².
Among the 148 assets we track against SPYV, VTRS ranks #116 by 3-year correlation. The last year tells two different stories: VTRS led by 49.3 percentage points, +18.5% for SPYV against +67.8% for VTRS. The rolling one-year correlation moved between 0.39 and 0.68 over the past three years, a moderate range. Risk is not evenly split, since VTRS carries 2.7 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 VTRS: side by side
| SPYV (SPDR Portfolio S&P 500 Value ETF) | VTRS (Viatris) | |
|---|---|---|
| 1-year return | +18.5% | +67.8% |
| 5-year return | +73.5% | +44.6% |
| Volatility (ann.) | 12.1% | 32.8% |
| Beta vs S&P 500 | 0.70 | 0.79 |
| Max drawdown (3Y) | -17.5% | -45.0% |
| Market cap | – | $19.4B |
| P/E (trailing) | – | – |
| Dividend yield | 1.69% | 2.85% |
| Expense ratio | 0.04% | – |
| Assets under management | $36.2B | – |
| Sector / category | ETF · US Style | Health Care |
SPYV is a Large Value fund from State Street Investment Management: $36.2B under management, 438 holdings, a 0.04% expense ratio, a 1.69% trailing dividend yield.
Year-by-year returns
| Year | SPYV | VTRS |
|---|---|---|
| 2022 | -5.3% | -14.3% |
| 2023 | +22.2% | +2.1% |
| 2024 | +12.2% | +19.7% |
| 2025 | +13.2% | +5.1% |
| 2026 | +12.7% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that SPYV holds VTRS at a 0.06% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are SPYV and VTRS good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between SPYV and VTRS?
The SPYV/VTRS correlation stands at 0.51 on a 3-year window (1 year: 0.44, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is VTRS a good diversifier for SPYV?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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/spyv-vs-vtrs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/spyv-vs-vtrs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPYV correlations · VTRS correlations
