ACWI vs EL: Correlation
iShares MSCI ACWI ETF (ACWI) and Estée Lauder Companies (The) (EL) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and EL?
Across a 3-year window, the weekly returns of ACWI and EL correlate at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Stretching to 5 years gives 0.50, with an annualized covariance of 278.6 %².
Among the 119 assets we track against ACWI, EL ranks #104 by 3-year correlation. On 12-month performance ACWI holds a 6.3-point edge, +22.7% against +16.4%. The rolling one-year correlation moved between 0.23 and 0.59 over the past three years, a moderate range. One caveat on sizing: EL is 3.4 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 EL: side by side
| ACWI (iShares MSCI ACWI ETF) | EL (Estée Lauder Companies (The)) | |
|---|---|---|
| 1-year return | +22.7% | +16.4% |
| 5-year return | +69.0% | -66.7% |
| Volatility (ann.) | 13.8% | 47.0% |
| Beta vs S&P 500 | 0.92 | 1.28 |
| Max drawdown (3Y) | -16.5% | -68.4% |
| Market cap | – | $38.4B |
| P/E (trailing) | – | 208.3 |
| Dividend yield | 1.44% | 1.33% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | Consumer Staples |
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 | EL |
|---|---|---|
| 2022 | -18.4% | -32.3% |
| 2023 | +22.3% | -40.1% |
| 2024 | +17.4% | -47.6% |
| 2025 | +22.4% | +42.1% |
| 2026 | +14.9% | +2.1% |
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 EL at a 0.08% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ACWI and EL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ACWI and EL?
The ACWI/EL correlation stands at 0.43 on a 3-year window (1 year: 0.47, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is EL a good diversifier for ACWI?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acwi-vs-el.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acwi-vs-el/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACWI correlations · EL correlations
