USA vs VOO: Correlation
Measured on weekly returns over the past three years, Liberty All-Star Equity Fund (USA) and Vanguard S&P 500 ETF (VOO) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are USA and VOO?
Across a 3-year window, the weekly returns of USA and VOO correlate at 0.85, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.85 over 3. Stretching to 5 years gives 0.85, with an annualized covariance of 186.0 %².
Among the 31 assets we track against USA, VOO ranks #6 by 3-year correlation. The last year tells two different stories: VOO led by 19.0 percentage points, +1.6% for USA against +20.6% for VOO.
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.
USA vs VOO: side by side
| USA (Liberty All-Star Equity Fund) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | +1.6% | +20.6% |
| 5-year return | +18.1% | +83.0% |
| Volatility (ann.) | 15.2% | 14.4% |
| Beta vs S&P 500 | 0.89 | 0.99 |
| Max drawdown (3Y) | -17.7% | -18.7% |
| Market cap | – | – |
| P/E (trailing) | 10.7 | – |
| Dividend yield | 11.19% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | US Listed | 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 | USA | VOO |
|---|---|---|
| 2022 | -25.2% | -18.2% |
| 2023 | +23.2% | +26.3% |
| 2024 | +20.8% | +25.0% |
| 2025 | +0.1% | +17.8% |
| 2026 | +3.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are USA and VOO good diversifiers for each other?
No: a correlation of 0.85 means USA and VOO tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between USA and VOO?
As of 2026-08-27, the correlation of weekly returns between USA and VOO is 0.85 over 3 years, 0.84 over 1 year and 0.85 over 5 years.
Is VOO a good diversifier for USA?
No: a correlation of 0.85 means USA and VOO tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
A reading of 0.85 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: USA correlations · VOO correlations
