Asset Class Correlations

This page shows a correlation matrix for for common ETFs representing typical asset classes and subclasses. You can also view correlations for specific mutual funds, ETFs and stocks including rolling correlations over time for specific tickers.

Correlation Results

Asset class correlations for time period 04/06/2009 - 06/22/2018 based on daily returns.

Asset Correlations
NameTickerVTIVOVBSHYBNDTLTTIPMUBVEUVSSVWOVNQDBCGLDAnnualized ReturnDaily Standard DeviationMonthly Standard DeviationAnnualized Standard Deviation
Vanguard Total Stock Market ETFVTI-0.980.95-0.29-0.31-0.47-0.22-0.060.900.870.840.740.500.0416.41%0.98%3.69%12.78%
Vanguard Mid-Cap ETFVO0.98-0.97-0.28-0.30-0.46-0.21-0.050.880.870.830.760.510.0517.11%1.11%4.13%14.32%
Vanguard Small-Cap ETFVB0.950.97--0.27-0.30-0.45-0.20-0.050.850.840.790.760.500.0517.85%1.21%4.78%16.55%
iShares 1-3 Year Treasury Bond ETFSHY-0.29-0.28-0.27-0.700.570.580.27-0.23-0.20-0.20-0.15-0.140.240.76%0.06%0.24%0.82%
Vanguard Total Bond Market ETFBND-0.31-0.30-0.300.70-0.860.790.43-0.25-0.22-0.20-0.09-0.150.253.36%0.21%0.86%2.97%
iShares 20+ Year Treasury Bond ETFTLT-0.47-0.46-0.450.570.86-0.740.37-0.44-0.41-0.39-0.23-0.280.174.87%0.91%3.68%12.76%
iShares TIPS Bond ETFTIP-0.22-0.21-0.200.580.790.74-0.36-0.15-0.12-0.11-0.040.010.303.37%0.33%1.35%4.67%
iShares National Muni Bond ETFMUB-0.06-0.05-0.050.270.430.370.36--0.04-0.03-0.020.08-0.050.113.90%0.27%1.38%4.78%
Vanguard FTSE All-Wld ex-US ETFVEU0.900.880.85-0.23-0.25-0.44-0.15-0.04-0.960.920.680.580.159.21%1.20%4.80%16.63%
Vanguard FTSE All-Wld ex-US SmCp ETFVSS0.870.870.84-0.20-0.22-0.41-0.12-0.030.96-0.900.670.600.2012.21%1.14%4.74%16.42%
Vanguard FTSE Emerging Markets ETFVWO0.840.830.79-0.20-0.20-0.39-0.11-0.020.920.90-0.650.570.178.07%1.38%5.77%20.00%
Vanguard Real Estate ETFVNQ0.740.760.76-0.15-0.09-0.23-0.040.080.680.670.65-0.370.0916.82%1.44%5.52%19.11%
Invesco DB Commodity Index Tracking FundDBC0.500.510.50-0.14-0.15-0.280.01-0.050.580.600.570.37-0.36-2.02%1.05%4.88%16.91%
SPDR Gold SharesGLD0.040.050.050.240.250.170.300.110.150.200.170.090.36-3.51%1.03%5.04%17.45%
Notes on results: