ACWI vs GE: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and GE Aerospace (GE) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and GE?
On 3 years of weekly data the ACWI/GE correlation comes out at 0.59, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.59 over 3. The 5-year figure is 0.62, and annualized covariance runs at 253.1 %².
Within ACWI's tracked universe of 119 assets, GE comes in at #76 by 3-year correlation. Neither side won the trailing year by much: +22.7% against +26.0%. The rolling one-year correlation moved between 0.39 and 0.78 over the past three years, a moderate range. Risk is not evenly split, since GE carries 2.2 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 GE: side by side
| ACWI (iShares MSCI ACWI ETF) | GE (GE Aerospace) | |
|---|---|---|
| 1-year return | +22.7% | +26.0% |
| 5-year return | +69.0% | +435.6% |
| Volatility (ann.) | 13.8% | 30.9% |
| Beta vs S&P 500 | 0.92 | 1.24 |
| Max drawdown (3Y) | -16.5% | -21.4% |
| Market cap | – | $355.6B |
| P/E (trailing) | – | 41.8 |
| Dividend yield | 1.44% | 0.47% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | Industrials |
ACWI is a Global Large-Stock Blend fund from iShares: $32.5B under management, 1590 holdings, a 0.32% expense ratio, a 1.44% trailing dividend yield.
Year-by-year returns
| Year | ACWI | GE |
|---|---|---|
| 2022 | -18.4% | -10.9% |
| 2023 | +22.3% | +95.7% |
| 2024 | +17.4% | +64.8% |
| 2025 | +22.4% | +85.7% |
| 2026 | +14.9% | +11.6% |
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 GE at a 0.35% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are ACWI and GE good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ACWI and GE?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.49 over the last year and 0.62 over 5 years.
Is GE a good diversifier for ACWI?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acwi-vs-ge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acwi-vs-ge/)
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Related comparisons
Hubs: ACWI correlations · GE correlations
