TROW vs VOO: Correlation
T. Rowe Price (TROW) and Vanguard S&P 500 ETF (VOO) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TROW and VOO?
Across a 3-year window, the weekly returns of TROW and VOO correlate at 0.68, strong. The past 12 months show a weaker link (0.40) than the 3-year average (0.68). Stretching to 5 years gives 0.73, with an annualized covariance of 228.8 %².
Within TROW's tracked universe of 46 assets, VOO comes in at #9 by 3-year correlation. Over the last 12 months VOO came out ahead by 12.5 percentage points (+8.1% against +20.6%). The rolling one-year correlation moved between 0.41 and 0.83 over the past three years, a moderate range. One caveat on sizing: TROW is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
TROW vs VOO: side by side
| TROW (T. Rowe Price) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | +8.1% | +20.6% |
| 5-year return | -37.0% | +83.0% |
| Volatility (ann.) | 23.5% | 14.4% |
| Beta vs S&P 500 | 1.10 | 0.99 |
| Max drawdown (3Y) | -34.0% | -18.7% |
| Market cap | $24.0B | – |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 4.57% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | Financials | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | TROW | VOO |
|---|---|---|
| 2022 | -42.2% | -18.2% |
| 2023 | +3.4% | +26.3% |
| 2024 | +9.7% | +25.0% |
| 2025 | -4.7% | +17.8% |
| 2026 | +12.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TROW and VOO good diversifiers for each other?
To a limited degree. At 0.68 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 TROW and VOO?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.40 over the last year and 0.73 over 5 years.
Is VOO a good diversifier for TROW?
To a limited degree. At 0.68 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 0.68 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.
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Related comparisons
Hubs: TROW correlations · VOO correlations
