TD vs VTV: Correlation
How closely do Toronto Dominion Bank (The) (TD) and Vanguard Value ETF (VTV) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TD and VTV?
Across a 3-year window, the weekly returns of TD and VTV correlate at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 126.2 %².
Few assets follow TD as closely as VTV, which ranks #3 of 13 tracked partners. The last year tells two different stories: TD led by 35.7 percentage points, +61.4% for TD against +25.7% for VTV. Note the risk asymmetry: TD runs 1.6 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.
TD vs VTV: side by side
| TD (Toronto Dominion Bank (The)) | VTV (Vanguard Value ETF) | |
|---|---|---|
| 1-year return | +61.4% | +25.7% |
| 5-year return | +124.4% | +79.1% |
| Volatility (ann.) | 19.1% | 11.9% |
| Beta vs S&P 500 | 0.59 | 0.65 |
| Max drawdown (3Y) | -19.2% | -14.5% |
| Market cap | $198.4B | – |
| P/E (trailing) | 19.4 | – |
| Dividend yield | 0.00% | 1.86% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $256.4B |
| Sector / category | US Listed | ETF · US Style |
On the fund side, VTV sits in the Large Value category at Vanguard, with $256.4B under management, 308 holdings, a 0.03% expense ratio, a 1.86% trailing dividend yield.
Year-by-year returns
| Year | TD | VTV |
|---|---|---|
| 2022 | -12.2% | -2.1% |
| 2023 | +4.6% | +9.3% |
| 2024 | -13.4% | +16.0% |
| 2025 | +83.6% | +15.3% |
| 2026 | +30.4% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TD and VTV good diversifiers for each other?
To a limited degree. At 0.56 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 TD and VTV?
The TD/VTV correlation stands at 0.56 on a 3-year window (1 year: 0.52, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is VTV a good diversifier for TD?
To a limited degree. At 0.56 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 0.56 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/td-vs-vtv.json
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Related comparisons
Hubs: TD correlations · VTV correlations
