ALC vs USMV: Correlation
Measured on weekly returns over the past three years, Alcon Inc. (ALC) and iShares MSCI USA Min Vol Factor ETF (USMV) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALC and USMV?
On 3 years of weekly data the ALC/USMV correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 151.5 %².
Few assets follow ALC as closely as USMV, which ranks #2 of 13 tracked partners. The last year tells two different stories: USMV led by 20.9 percentage points, -10.8% for ALC against +10.1% for USMV. Note the risk asymmetry: ALC runs 2.6 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.
ALC vs USMV: side by side
| ALC (Alcon Inc.) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | -10.8% | +10.1% |
| 5-year return | -10.3% | +42.3% |
| Volatility (ann.) | 26.0% | 9.9% |
| Beta vs S&P 500 | 0.77 | 0.51 |
| Max drawdown (3Y) | -37.9% | -9.4% |
| Market cap | $34.9B | – |
| P/E (trailing) | 55.6 | – |
| Dividend yield | 0.49% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | US Listed | ETF · US Style |
USMV, iShares's Large Blend fund, carries $23.6B under management, 164 holdings, a 0.15% expense ratio, a 1.48% trailing dividend yield.
Year-by-year returns
| Year | ALC | USMV |
|---|---|---|
| 2022 | -21.1% | -9.4% |
| 2023 | +14.3% | +10.3% |
| 2024 | +9.0% | +15.7% |
| 2025 | -6.8% | +7.6% |
| 2026 | -7.9% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALC and USMV good diversifiers for each other?
Only partially. A correlation of 0.59 means ALC and USMV 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 ALC and USMV?
The ALC/USMV correlation stands at 0.59 on a 3-year window (1 year: 0.57, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is USMV a good diversifier for ALC?
Only partially. A correlation of 0.59 means ALC and USMV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
A reading of 0.59 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/alc-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alc-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALC correlations · USMV correlations
