BTX vs MTUM: Correlation
How closely do BlackRock Technology and Private Equity Term Trust (BTX) and iShares MSCI USA Momentum Factor ETF (MTUM) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTX and MTUM?
Across a 3-year window, the weekly returns of BTX and MTUM correlate at 0.76, strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Stretching to 5 years gives 0.71, with an annualized covariance of 382.9 %².
Among the 20 assets we track against BTX, MTUM ranks #4 by 3-year correlation. Over the last 12 months BTX came out ahead by 14.3 percentage points (+39.5% against +25.2%).
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.
BTX vs MTUM: side by side
| BTX (BlackRock Technology and Private Equity Term Trust) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +39.5% | +25.2% |
| 5-year return | -21.7% | +76.1% |
| Volatility (ann.) | 24.4% | 20.6% |
| Beta vs S&P 500 | 1.23 | 1.25 |
| Max drawdown (3Y) | -31.7% | -21.0% |
| Market cap | $1.1B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 0.00% | 0.62% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.3B |
| Sector / category | US Listed | 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 | BTX | MTUM |
|---|---|---|
| 2022 | -47.8% | -18.3% |
| 2023 | +19.3% | +9.1% |
| 2024 | +13.4% | +32.9% |
| 2025 | +0.9% | +22.1% |
| 2026 | +45.3% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTX and MTUM good diversifiers for each other?
Only partially. A correlation of 0.76 means BTX 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 BTX and MTUM?
As of 2026-08-27, the correlation of weekly returns between BTX and MTUM is 0.76 over 3 years, 0.71 over 1 year and 0.71 over 5 years.
Is MTUM a good diversifier for BTX?
Only partially. A correlation of 0.76 means BTX 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 0.76 mean?
On the −1 to +1 scale, 0.76 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btx-vs-mtum.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/btx-vs-mtum/)
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Related comparisons
Hubs: BTX correlations · MTUM correlations
