ACWI vs CAE: Correlation
Measured on weekly returns over the past three years, iShares MSCI ACWI ETF (ACWI) and CAE Inc (CAE) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and CAE?
Across a 3-year window, the weekly returns of ACWI and CAE correlate at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. Stretching to 5 years gives 0.56, with an annualized covariance of 190.7 %².
Among the 119 assets we track against ACWI, CAE ranks #99 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ACWI ahead by 30.5 points (+22.7% versus -7.8%). Note the risk asymmetry: CAE runs 2.1 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 CAE: side by side
| ACWI (iShares MSCI ACWI ETF) | CAE (CAE Inc) | |
|---|---|---|
| 1-year return | +22.7% | -7.8% |
| 5-year return | +69.0% | -12.4% |
| Volatility (ann.) | 13.8% | 29.6% |
| Beta vs S&P 500 | 0.92 | 0.91 |
| Max drawdown (3Y) | -16.5% | -34.6% |
| Market cap | – | $8.0B |
| P/E (trailing) | – | 38.9 |
| Dividend yield | 1.44% | 0.00% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | US Listed |
ACWI, iShares's Global Large-Stock Blend fund, carries $32.5B under management, 1590 holdings, a 0.32% expense ratio, a 1.44% trailing dividend yield.
Year-by-year returns
| Year | ACWI | CAE |
|---|---|---|
| 2022 | -18.4% | -23.4% |
| 2023 | +22.3% | +11.6% |
| 2024 | +17.4% | +17.6% |
| 2025 | +22.4% | +19.9% |
| 2026 | +14.9% | -18.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and CAE good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ACWI and CAE?
As of 2026-08-27, the correlation of weekly returns between ACWI and CAE is 0.47 over 3 years, 0.42 over 1 year and 0.56 over 5 years.
Is CAE a good diversifier for ACWI?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
A reading of 0.47 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-cae.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acwi-vs-cae/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACWI correlations · CAE correlations
