ACWI vs TEL: Correlation
Measured on weekly returns over the past three years, iShares MSCI ACWI ETF (ACWI) and TE Connectivity (TEL) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and TEL?
On 3 years of weekly data the ACWI/TEL correlation comes out at 0.71, strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. The 5-year figure is 0.74, and annualized covariance runs at 280.1 %².
By 3-year correlation, TEL places #60 of the 119 assets tracked against ACWI. Correlation aside, the last 12 months split them widely, with ACWI ahead by 23.8 points (+22.7% versus -1.1%). On a rolling one-year basis the correlation drifted between 0.54 and 0.87, a moderate band. Note the risk asymmetry: TEL runs 2.1 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 TEL: side by side
| ACWI (iShares MSCI ACWI ETF) | TEL (TE Connectivity) | |
|---|---|---|
| 1-year return | +22.7% | -1.1% |
| 5-year return | +69.0% | +43.7% |
| Volatility (ann.) | 13.8% | 28.8% |
| Beta vs S&P 500 | 0.92 | 1.32 |
| Max drawdown (3Y) | -16.5% | -22.6% |
| Market cap | – | $58.8B |
| P/E (trailing) | – | 20.1 |
| Dividend yield | 1.44% | 1.42% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | Information Technology |
ACWI, iShares's Global Large-Stock Blend fund, carries $32.5B under management, 1590 holdings, a 0.32% expense ratio, a 1.44% trailing dividend yield.
Year-by-year returns
| Year | ACWI | TEL |
|---|---|---|
| 2022 | -18.4% | -27.7% |
| 2023 | +22.3% | +24.6% |
| 2024 | +17.4% | +3.5% |
| 2025 | +22.4% | +61.1% |
| 2026 | +14.9% | -9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.07% of ACWI is TEL itself, so the fund partly moves with the stock by construction.
Are ACWI and TEL good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ACWI and TEL?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.61 over the last year and 0.74 over 5 years.
Is TEL a good diversifier for ACWI?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
A reading of 0.71 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-tel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acwi-vs-tel/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACWI correlations · TEL correlations
