ACWI vs BLK: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and BlackRock (BLK) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and BLK?
Over the past 3 years, ACWI and BLK moved with a correlation of 0.71, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.60 versus 0.71 over 3 years. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 241.1 %².
By 3-year correlation, BLK places #58 of the 119 assets tracked against ACWI. Their recent paths diverged sharply: over the last 12 months ACWI outperformed by 17.4 percentage points (+22.7% for ACWI against +5.3% for BLK). The rolling one-year correlation moved between 0.53 and 0.86 over the past three years, a moderate range. One caveat on sizing: BLK is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 BLK: side by side
| ACWI (iShares MSCI ACWI ETF) | BLK (BlackRock) | |
|---|---|---|
| 1-year return | +22.7% | +5.3% |
| 5-year return | +69.0% | +38.9% |
| Volatility (ann.) | 13.8% | 24.7% |
| Beta vs S&P 500 | 0.92 | 1.19 |
| Max drawdown (3Y) | -16.5% | -23.7% |
| Market cap | – | $189.7B |
| P/E (trailing) | – | 28.1 |
| Dividend yield | 1.44% | 1.86% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | Financials |
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 | BLK |
|---|---|---|
| 2022 | -18.4% | -20.4% |
| 2023 | +22.3% | +17.9% |
| 2024 | +17.4% | +29.3% |
| 2025 | +22.4% | +6.6% |
| 2026 | +14.9% | +10.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that ACWI holds BLK at a 0.16% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ACWI and BLK good diversifiers for each other?
To a limited degree. At 0.71 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 BLK?
As of 2026-08-27, the correlation of weekly returns between ACWI and BLK is 0.71 over 3 years, 0.60 over 1 year and 0.79 over 5 years.
Is BLK a good diversifier for ACWI?
To a limited degree. At 0.71 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 0.71 mean?
A reading of 0.71 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-blk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acwi-vs-blk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACWI correlations · BLK correlations
