ACWI vs GLQ: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and Clough Global Equity Fund (GLQ) trade together? Their weekly returns over three years give a correlation of 0.88, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and GLQ?
Across a 3-year window, the weekly returns of ACWI and GLQ correlate at 0.88, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. Stretching to 5 years gives 0.79, with an annualized covariance of 201.1 %².
Within ACWI's tracked universe of 119 assets, GLQ comes in at #19 by 3-year correlation. Twelve-month performance is nearly a tie, at +22.7% for ACWI and +21.6% for GLQ.
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 GLQ: side by side
| ACWI (iShares MSCI ACWI ETF) | GLQ (Clough Global Equity Fund) | |
|---|---|---|
| 1-year return | +22.7% | +21.6% |
| 5-year return | +69.0% | -3.8% |
| Volatility (ann.) | 13.8% | 16.6% |
| Beta vs S&P 500 | 0.92 | 1.00 |
| Max drawdown (3Y) | -16.5% | -19.2% |
| Market cap | – | – |
| P/E (trailing) | – | 2.7 |
| Dividend yield | 1.44% | 9.99% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | US Listed |
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 | GLQ |
|---|---|---|
| 2022 | -18.4% | -42.3% |
| 2023 | +22.3% | +2.8% |
| 2024 | +17.4% | +25.2% |
| 2025 | +22.4% | +28.5% |
| 2026 | +14.9% | +13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and GLQ good diversifiers for each other?
No. With a correlation of 0.88, ACWI and GLQ move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ACWI and GLQ?
As of 2026-08-27, the correlation of weekly returns between ACWI and GLQ is 0.88 over 3 years, 0.80 over 1 year and 0.79 over 5 years.
Is GLQ a good diversifier for ACWI?
No. With a correlation of 0.88, ACWI and GLQ move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.88 mean?
A reading of 0.88 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-glq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/acwi-vs-glq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACWI correlations · GLQ correlations
