AMD vs MTUM: Correlation
Advanced Micro Devices (AMD) and iShares MSCI USA Momentum Factor ETF (MTUM) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMD and MTUM?
Over the past 3 years, AMD and MTUM moved with a correlation of 0.62, which is strong. Recent behaviour matches the longer record: 0.56 over 1 year against 0.62 over 3. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 706.3 %².
Within AMD's tracked universe of 33 assets, MTUM comes in at #4 by 3-year correlation. The last year tells two different stories: AMD led by 160.0 percentage points, +185.2% for AMD against +25.2% for MTUM. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.03 to 0.76. One caveat on sizing: AMD is 2.7 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.
AMD vs MTUM: side by side
| AMD (Advanced Micro Devices) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +185.2% | +25.2% |
| 5-year return | +328.2% | +76.1% |
| Volatility (ann.) | 55.7% | 20.6% |
| Beta vs S&P 500 | 2.04 | 1.25 |
| Max drawdown (3Y) | -63.0% | -21.0% |
| Market cap | $778.2B | – |
| P/E (trailing) | 121.9 | – |
| Dividend yield | 0.00% | 0.62% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.3B |
| Sector / category | Information Technology | ETF · US Style |
MTUM is a Large Blend fund from iShares: $25.3B under management, 126 holdings, a 0.15% expense ratio, a 0.62% trailing dividend yield.
Year-by-year returns
| Year | AMD | MTUM |
|---|---|---|
| 2022 | -55.0% | -18.3% |
| 2023 | +127.6% | +9.1% |
| 2024 | -18.1% | +32.9% |
| 2025 | +77.3% | +22.1% |
| 2026 | +122.6% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that MTUM holds AMD at a 5.09% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are AMD and MTUM good diversifiers for each other?
Only partially. A correlation of 0.62 means AMD and MTUM 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 AMD and MTUM?
As of 2026-08-27, the correlation of weekly returns between AMD and MTUM is 0.62 over 3 years, 0.56 over 1 year and 0.54 over 5 years.
Is MTUM a good diversifier for AMD?
Only partially. A correlation of 0.62 means AMD and MTUM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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/amd-vs-mtum.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amd-vs-mtum/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMD correlations · MTUM correlations
