ACWI vs AMZN: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and Amazon (AMZN) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and AMZN?
Across a 3-year window, the weekly returns of ACWI and AMZN correlate at 0.65, strong. The past 12 months show a weaker link (0.51) than the 3-year average (0.65). Stretching to 5 years gives 0.67, with an annualized covariance of 277.0 %².
Within ACWI's tracked universe of 119 assets, AMZN comes in at #66 by 3-year correlation. On 12-month performance ACWI holds a 10.9-point edge, +22.7% against +11.8%. Across three years, the rolling one-year figure varied moderately, from 0.52 to 0.78. Note the risk asymmetry: AMZN runs 2.2 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.
ACWI vs AMZN: side by side
| ACWI (iShares MSCI ACWI ETF) | AMZN (Amazon) | |
|---|---|---|
| 1-year return | +22.7% | +11.8% |
| 5-year return | +69.0% | +49.8% |
| Volatility (ann.) | 13.8% | 31.0% |
| Beta vs S&P 500 | 0.92 | 1.48 |
| Max drawdown (3Y) | -16.5% | -30.9% |
| Market cap | – | $2,764.1B |
| P/E (trailing) | – | 20.9 |
| Dividend yield | 1.44% | 0.00% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | Consumer Discretionary |
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 | AMZN |
|---|---|---|
| 2022 | -18.4% | -49.6% |
| 2023 | +22.3% | +80.9% |
| 2024 | +17.4% | +44.4% |
| 2025 | +22.4% | +5.2% |
| 2026 | +14.9% | +11.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
AMZN represents 2.41% of ACWI's portfolio, so part of any move in ACWI is AMZN itself, and the correlation between them is partly mechanical.
Are ACWI and AMZN good diversifiers for each other?
To a limited degree. At 0.65 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 ACWI and AMZN?
As of 2026-08-27, the correlation of weekly returns between ACWI and AMZN is 0.65 over 3 years, 0.51 over 1 year and 0.67 over 5 years.
Is AMZN a good diversifier for ACWI?
To a limited degree. At 0.65 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 0.65 mean?
A reading of 0.65 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acwi-vs-amzn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/acwi-vs-amzn/)
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Related comparisons
Hubs: ACWI correlations · AMZN correlations
