APH vs MTUM: Correlation
Amphenol (APH) and iShares MSCI USA Momentum Factor ETF (MTUM) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APH and MTUM?
Over the past 3 years, APH and MTUM moved with a correlation of 0.71, which is strong. The past 12 months show a weaker link (0.55) than the 3-year average (0.71). Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 492.8 %².
In APH's tracked universe of 38 assets, MTUM sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months APH outperformed by 22.3 percentage points (+47.5% for APH against +25.2% for MTUM). The rolling one-year correlation moved between 0.50 and 0.86 over the past three years, a moderate range. Risk is not evenly split, since APH carries 1.6 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.
APH vs MTUM: side by side
| APH (Amphenol) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +47.5% | +25.2% |
| 5-year return | +338.9% | +76.1% |
| Volatility (ann.) | 33.6% | 20.6% |
| Beta vs S&P 500 | 1.57 | 1.25 |
| Max drawdown (3Y) | -28.2% | -21.0% |
| Market cap | $199.0B | – |
| P/E (trailing) | 40.3 | – |
| Dividend yield | 0.57% | 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 | APH | MTUM |
|---|---|---|
| 2022 | -12.0% | -18.3% |
| 2023 | +31.5% | +9.1% |
| 2024 | +41.3% | +32.9% |
| 2025 | +96.1% | +22.1% |
| 2026 | +19.8% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
APH represents 0.82% of MTUM's portfolio, so part of any move in MTUM is APH itself, and the correlation between them is partly mechanical.
Are APH and MTUM good diversifiers for each other?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between APH and MTUM?
The APH/MTUM correlation stands at 0.71 on a 3-year window (1 year: 0.55, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is MTUM a good diversifier for APH?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.71 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/aph-vs-mtum.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aph-vs-mtum/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APH correlations · MTUM correlations
