ACWI vs ALMS: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and Alumis Inc. (ALMS) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and ALMS?
On 3 years of weekly data the ACWI/ALMS correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.06) than the 3-year average (-0.17). The 5-year figure is n/a, and annualized covariance runs at -314.0 %².
Within ACWI's tracked universe of 119 assets, ALMS comes in at #112 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALMS outperformed by 349.0 percentage points (+22.7% for ACWI against +371.7% for ALMS). Risk is not evenly split, since ALMS carries 9.4 times the volatility of the other side.
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.
ACWI vs ALMS: side by side
| ACWI (iShares MSCI ACWI ETF) | ALMS (Alumis Inc.) | |
|---|---|---|
| 1-year return | +22.7% | +371.7% |
| 5-year return | +69.0% | n/a |
| Volatility (ann.) | 13.8% | 130.0% |
| Beta vs S&P 500 | 0.92 | -1.50 |
| Max drawdown (3Y) | -16.5% | -78.9% |
| Market cap | – | $3.0B |
| P/E (trailing) | – | – |
| Dividend yield | 1.44% | 0.00% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | US Listed |
On the fund side, ACWI sits in the Global Large-Stock Blend category at iShares, with $32.5B under management, 1590 holdings, a 0.32% expense ratio, a 1.44% trailing dividend yield.
Year-by-year returns
| Year | ACWI | ALMS |
|---|---|---|
| 2022 | -18.4% | – |
| 2023 | +22.3% | – |
| 2024 | +17.4% | – |
| 2025 | +22.4% | +24.2% |
| 2026 | +14.9% | +137.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and ALMS good diversifiers for each other?
Yes. With a correlation of -0.17, ACWI and ALMS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACWI and ALMS?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with 0.06 over the last year and n/a over 5 years.
Is ALMS a good diversifier for ACWI?
Yes. With a correlation of -0.17, ACWI and ALMS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
A reading of -0.17 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: ACWI correlations · ALMS correlations
