TIP vs TVE: Correlation
Measured on weekly returns over the past three years, iShares TIPS Bond ETF (TIP) and Tennessee Valley Authority (TVE) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TIP and TVE?
On 3 years of weekly data the TIP/TVE correlation comes out at 0.45, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.35 versus 0.45 over 3 years. The 5-year figure is 0.39, and annualized covariance runs at 12.2 %².
Among the 29 assets we track against TIP, TVE ranks #17 by 3-year correlation. Neither side won the trailing year by much: +1.4% against +1.7%.
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.
TIP vs TVE: side by side
| TIP (iShares TIPS Bond ETF) | TVE (Tennessee Valley Authority) | |
|---|---|---|
| 1-year return | +1.4% | +1.7% |
| 5-year return | +1.2% | +0.6% |
| Volatility (ann.) | 4.4% | 6.1% |
| Beta vs S&P 500 | 0.05 | 0.08 |
| Max drawdown (3Y) | -3.7% | -5.7% |
| Dividend yield | 4.47% | – |
| Expense ratio | 0.18% | – |
| Assets under management | $14.6B | – |
| Sector / category | ETF · Bonds | US Listed |
On the fund side, TIP sits in the Inflation-Protected Bond category at iShares, with $14.6B under management, a 0.18% expense ratio, a 4.47% trailing dividend yield.
Year-by-year returns
| Year | TIP | TVE |
|---|---|---|
| 2022 | -12.3% | -13.5% |
| 2023 | +3.8% | +7.2% |
| 2024 | +1.7% | +0.1% |
| 2025 | +6.8% | +12.1% |
| 2026 | +1.1% | -2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TIP and TVE good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between TIP and TVE?
The TIP/TVE correlation stands at 0.45 on a 3-year window (1 year: 0.35, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is TVE a good diversifier for TIP?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/tip-vs-tve.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tip-vs-tve/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TIP correlations · TVE correlations
