ACWI vs KEYS: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and Keysight Technologies (KEYS) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and KEYS?
Across a 3-year window, the weekly returns of ACWI and KEYS correlate at 0.66, strong. Lately the two have drifted apart, with the 1-year correlation at 0.52 versus 0.66 over 3 years. Stretching to 5 years gives 0.67, with an annualized covariance of 336.0 %².
Within ACWI's tracked universe of 119 assets, KEYS comes in at #65 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months KEYS outperformed by 74.7 percentage points (+22.7% for ACWI against +97.4% for KEYS). The rolling one-year correlation moved between 0.50 and 0.82 over the past three years, a moderate range. Risk is not evenly split, since KEYS carries 2.7 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 KEYS: side by side
| ACWI (iShares MSCI ACWI ETF) | KEYS (Keysight Technologies) | |
|---|---|---|
| 1-year return | +22.7% | +97.4% |
| 5-year return | +69.0% | +81.9% |
| Volatility (ann.) | 13.8% | 36.8% |
| Beta vs S&P 500 | 0.92 | 1.58 |
| Max drawdown (3Y) | -16.5% | -31.4% |
| Market cap | – | $55.5B |
| P/E (trailing) | – | 43.5 |
| Dividend yield | 1.44% | 0.00% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | Information Technology |
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 | KEYS |
|---|---|---|
| 2022 | -18.4% | -17.2% |
| 2023 | +22.3% | -7.0% |
| 2024 | +17.4% | +1.0% |
| 2025 | +22.4% | +26.5% |
| 2026 | +14.9% | +60.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.05% of ACWI is KEYS itself, so the fund partly moves with the stock by construction.
Are ACWI and KEYS good diversifiers for each other?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ACWI and KEYS?
As of 2026-08-27, the correlation of weekly returns between ACWI and KEYS is 0.66 over 3 years, 0.52 over 1 year and 0.67 over 5 years.
Is KEYS a good diversifier for ACWI?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.66 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-keys.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acwi-vs-keys/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACWI correlations · KEYS correlations
