DELL vs MTUM: Correlation
How closely do Dell Technologies (DELL) and iShares MSCI USA Momentum Factor ETF (MTUM) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DELL and MTUM?
Over the past 3 years, DELL and MTUM moved with a correlation of 0.58, which is moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 726.9 %².
Among the 29 assets we track against DELL, MTUM ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DELL outperformed by 235.8 percentage points (+261.0% for DELL against +25.2% for MTUM). The rolling one-year correlation moved between 0.42 and 0.76 over the past three years, a moderate range. One caveat on sizing: DELL is 3.0 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.
DELL vs MTUM: side by side
| DELL (Dell Technologies) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +261.0% | +25.2% |
| 5-year return | +945.0% | +76.1% |
| Volatility (ann.) | 61.3% | 20.6% |
| Beta vs S&P 500 | 2.02 | 1.25 |
| Max drawdown (3Y) | -59.6% | -21.0% |
| Market cap | $305.1B | – |
| P/E (trailing) | 36.9 | – |
| Dividend yield | 0.48% | 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 | DELL | MTUM |
|---|---|---|
| 2022 | -26.6% | -18.3% |
| 2023 | +95.9% | +9.1% |
| 2024 | +53.0% | +32.9% |
| 2025 | +11.2% | +22.1% |
| 2026 | +278.6% | +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 DELL at a 0.63% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are DELL and MTUM good diversifiers for each other?
To a limited degree. At 0.58 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 DELL and MTUM?
The DELL/MTUM correlation stands at 0.58 on a 3-year window (1 year: 0.51, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is MTUM a good diversifier for DELL?
To a limited degree. At 0.58 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 0.58 mean?
On the −1 to +1 scale, 0.58 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/dell-vs-mtum.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dell-vs-mtum/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DELL correlations · MTUM correlations
