BWXT vs MTUM: Correlation
BWX Technologies, Inc. (BWXT) and iShares MSCI USA Momentum Factor ETF (MTUM) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWXT and MTUM?
On 3 years of weekly data the BWXT/MTUM correlation comes out at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 358.8 %².
Within BWXT's tracked universe of 10 assets, MTUM comes in at #4 by 3-year correlation. The last year tells two different stories: MTUM led by 30.5 percentage points, -5.3% for BWXT against +25.2% for MTUM. Risk is not evenly split, since BWXT 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.
BWXT vs MTUM: side by side
| BWXT (BWX Technologies, Inc.) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | -5.3% | +25.2% |
| 5-year return | +188.9% | +76.1% |
| Volatility (ann.) | 33.5% | 20.6% |
| Beta vs S&P 500 | 1.01 | 1.25 |
| Max drawdown (3Y) | -37.1% | -21.0% |
| Market cap | $14.3B | – |
| P/E (trailing) | 39.7 | – |
| Dividend yield | 0.68% | 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 | BWXT | MTUM |
|---|---|---|
| 2022 | +23.3% | -18.3% |
| 2023 | +33.9% | +9.1% |
| 2024 | +46.5% | +32.9% |
| 2025 | +56.4% | +22.1% |
| 2026 | -9.4% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWXT and MTUM good diversifiers for each other?
Only partially. A correlation of 0.52 means BWXT 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 BWXT and MTUM?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.53 over the last year and 0.49 over 5 years.
Is MTUM a good diversifier for BWXT?
Only partially. A correlation of 0.52 means BWXT 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 0.52 mean?
On the −1 to +1 scale, 0.52 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/bwxt-vs-mtum.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bwxt-vs-mtum/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BWXT correlations · MTUM correlations
