ACWI vs GILT: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and Gilat Satellite Networks Ltd. (GILT) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and GILT?
Across a 3-year window, the weekly returns of ACWI and GILT correlate at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Stretching to 5 years gives 0.42, with an annualized covariance of 322.3 %².
Among the 119 assets we track against ACWI, GILT ranks #100 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ACWI ahead by 17.2 points (+22.7% versus +5.5%). Note the risk asymmetry: GILT runs 3.7 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 GILT: side by side
| ACWI (iShares MSCI ACWI ETF) | GILT (Gilat Satellite Networks Ltd.) | |
|---|---|---|
| 1-year return | +22.7% | +5.5% |
| 5-year return | +69.0% | +4.3% |
| Volatility (ann.) | 13.8% | 50.6% |
| Beta vs S&P 500 | 0.92 | 1.53 |
| Max drawdown (3Y) | -16.5% | -52.3% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 23.0 |
| Dividend yield | 1.44% | 0.00% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | US Listed |
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 | GILT |
|---|---|---|
| 2022 | -18.4% | -18.0% |
| 2023 | +22.3% | +5.3% |
| 2024 | +17.4% | +0.7% |
| 2025 | +22.4% | +110.4% |
| 2026 | +14.9% | -19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and GILT good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ACWI and GILT?
The ACWI/GILT correlation stands at 0.46 on a 3-year window (1 year: 0.48, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is GILT a good diversifier for ACWI?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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-gilt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acwi-vs-gilt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACWI correlations · GILT correlations
