DECK vs MTUM: Correlation
Measured on weekly returns over the past three years, Deckers Brands (DECK) and iShares MSCI USA Momentum Factor ETF (MTUM) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DECK and MTUM?
On 3 years of weekly data the DECK/MTUM correlation comes out at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.30 versus 0.40 over 3 years. The 5-year figure is 0.42, and annualized covariance runs at 355.0 %².
By 3-year correlation, MTUM places #11 of the 31 assets tracked against DECK. Their recent paths diverged sharply: over the last 12 months MTUM outperformed by 51.2 percentage points (-26.0% for DECK against +25.2% for MTUM). On a rolling one-year basis the correlation drifted between 0.20 and 0.58, a moderate band. Risk is not evenly split, since DECK carries 2.1 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.
DECK vs MTUM: side by side
| DECK (Deckers Brands) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | -26.0% | +25.2% |
| 5-year return | +22.8% | +76.1% |
| Volatility (ann.) | 43.6% | 20.6% |
| Beta vs S&P 500 | 1.20 | 1.25 |
| Max drawdown (3Y) | -64.3% | -21.0% |
| Market cap | $11.8B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | 0.62% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.3B |
| Sector / category | Consumer Discretionary | 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 | DECK | MTUM |
|---|---|---|
| 2022 | +9.0% | -18.3% |
| 2023 | +67.5% | +9.1% |
| 2024 | +82.3% | +32.9% |
| 2025 | -49.0% | +22.1% |
| 2026 | -16.7% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DECK and MTUM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DECK and MTUM?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.30 over the last year and 0.42 over 5 years.
Is MTUM a good diversifier for DECK?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
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Related comparisons
Hubs: DECK correlations · MTUM correlations
