ACWI vs WHLR: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and Wheeler Real Estate Investment Trust, Inc. (WHLR) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and WHLR?
Across a 3-year window, the weekly returns of ACWI and WHLR correlate at -0.17, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.04) runs above the 3-year figure (-0.17). Stretching to 5 years gives -0.10, with an annualized covariance of -1244.9 %².
WHLR is close to the least connected end of ACWI's tracked universe, ranking #115 of 119. Correlation aside, the last 12 months split them widely, with ACWI ahead by 122.7 points (+22.7% versus -100.0%). One caveat on sizing: WHLR is 39.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 WHLR: side by side
| ACWI (iShares MSCI ACWI ETF) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | +22.7% | -100.0% |
| 5-year return | +69.0% | -100.0% |
| Volatility (ann.) | 13.8% | 545.0% |
| Beta vs S&P 500 | 0.92 | -5.84 |
| Max drawdown (3Y) | -16.5% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 1.44% | 0.00% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | US Listed |
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 | WHLR |
|---|---|---|
| 2022 | -18.4% | -28.0% |
| 2023 | +22.3% | -98.4% |
| 2024 | +17.4% | -98.4% |
| 2025 | +22.4% | -100.0% |
| 2026 | +14.9% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and WHLR good diversifiers for each other?
Yes. With a correlation of -0.17, ACWI and WHLR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACWI and WHLR?
The ACWI/WHLR correlation stands at -0.17 on a 3-year window (1 year: 0.04, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is WHLR a good diversifier for ACWI?
Yes. With a correlation of -0.17, ACWI and WHLR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
A reading of -0.17 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-whlr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/acwi-vs-whlr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACWI correlations · WHLR correlations
