AAPL vs QUAL: Correlation
How closely do Apple Inc. (AAPL) and iShares MSCI USA Quality Factor ETF (QUAL) 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 AAPL and QUAL?
On 3 years of weekly data the AAPL/QUAL correlation comes out at 0.56, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.36 versus 0.56 over 3 years. The 5-year figure is 0.67, and annualized covariance runs at 211.7 %².
Among the 32 assets we track against AAPL, QUAL ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AAPL ahead by 17.3 points (+37.0% versus +19.7%). On a rolling one-year basis the correlation drifted between 0.36 and 0.78, a moderate band. Note the risk asymmetry: AAPL runs 1.9 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.
AAPL vs QUAL: side by side
| AAPL (Apple Inc.) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | +37.0% | +19.7% |
| 5-year return | +110.6% | +68.0% |
| Volatility (ann.) | 27.2% | 14.0% |
| Beta vs S&P 500 | 1.06 | 0.93 |
| Max drawdown (3Y) | -33.4% | -18.0% |
| Market cap | $4,591.0B | – |
| P/E (trailing) | 36.1 | – |
| Dividend yield | 0.33% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | Information Technology | ETF · US Style |
QUAL, iShares's Large Blend fund, carries $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | AAPL | QUAL |
|---|---|---|
| 2022 | -26.4% | -20.5% |
| 2023 | +49.0% | +30.9% |
| 2024 | +30.7% | +22.3% |
| 2025 | +9.1% | +12.7% |
| 2026 | +16.0% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 6.62% of QUAL is AAPL itself, so the fund partly moves with the stock by construction.
Are AAPL and QUAL good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AAPL and QUAL?
The AAPL/QUAL correlation stands at 0.56 on a 3-year window (1 year: 0.36, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is QUAL a good diversifier for AAPL?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/aapl-vs-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aapl-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AAPL correlations · QUAL correlations
