ACWI vs MPWR: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and Monolithic Power Systems (MPWR) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and MPWR?
Over the past 3 years, ACWI and MPWR moved with a correlation of 0.67, which is strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 445.1 %².
Within ACWI's tracked universe of 119 assets, MPWR comes in at #64 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MPWR outperformed by 29.7 percentage points (+22.7% for ACWI against +52.4% for MPWR). Across three years, the rolling one-year figure varied moderately, from 0.53 to 0.78. Risk is not evenly split, since MPWR carries 3.5 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 MPWR: side by side
| ACWI (iShares MSCI ACWI ETF) | MPWR (Monolithic Power Systems) | |
|---|---|---|
| 1-year return | +22.7% | +52.4% |
| 5-year return | +69.0% | +170.3% |
| Volatility (ann.) | 13.8% | 48.1% |
| Beta vs S&P 500 | 0.92 | 2.22 |
| Max drawdown (3Y) | -16.5% | -51.6% |
| Market cap | – | $64.4B |
| P/E (trailing) | – | 79.4 |
| Dividend yield | 1.44% | 0.55% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | Information Technology |
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 | MPWR |
|---|---|---|
| 2022 | -18.4% | -27.8% |
| 2023 | +22.3% | +79.8% |
| 2024 | +17.4% | -5.6% |
| 2025 | +22.4% | +54.5% |
| 2026 | +14.9% | +45.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
MPWR represents 0.06% of ACWI's portfolio, so part of any move in ACWI is MPWR itself, and the correlation between them is partly mechanical.
Are ACWI and MPWR good diversifiers for each other?
Only partially. A correlation of 0.67 means ACWI and MPWR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ACWI and MPWR?
The ACWI/MPWR correlation stands at 0.67 on a 3-year window (1 year: 0.61, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is MPWR a good diversifier for ACWI?
Only partially. A correlation of 0.67 means ACWI and MPWR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 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-mpwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acwi-vs-mpwr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACWI correlations · MPWR correlations
