DLB vs USMV: Correlation
How closely do Dolby Laboratories (DLB) and iShares MSCI USA Min Vol Factor ETF (USMV) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLB and USMV?
Across a 3-year window, the weekly returns of DLB and USMV correlate at 0.51, moderate. The past 12 months show a weaker link (0.39) than the 3-year average (0.51). Stretching to 5 years gives 0.50, with an annualized covariance of 130.4 %².
Few assets follow DLB as closely as USMV, which ranks #2 of 12 tracked partners. The last year tells two different stories: USMV led by 22.4 percentage points, -12.3% for DLB against +10.1% for USMV. One caveat on sizing: DLB is 2.6 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.
DLB vs USMV: side by side
| DLB (Dolby Laboratories) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | -12.3% | +10.1% |
| 5-year return | -31.8% | +42.3% |
| Volatility (ann.) | 26.0% | 9.9% |
| Beta vs S&P 500 | 0.78 | 0.51 |
| Max drawdown (3Y) | -43.2% | -9.4% |
| Market cap | $5.8B | – |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 2.22% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | US Listed | ETF · US Style |
USMV, iShares's Large Blend fund, carries $23.6B under management, 164 holdings, a 0.15% expense ratio, a 1.48% trailing dividend yield.
Year-by-year returns
| Year | DLB | USMV |
|---|---|---|
| 2022 | -24.9% | -9.4% |
| 2023 | +23.8% | +10.3% |
| 2024 | -7.9% | +15.7% |
| 2025 | -16.3% | +7.6% |
| 2026 | -1.1% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLB and USMV good diversifiers for each other?
Only partially. A correlation of 0.51 means DLB and USMV 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 DLB and USMV?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.39 over the last year and 0.50 over 5 years.
Is USMV a good diversifier for DLB?
Only partially. A correlation of 0.51 means DLB and USMV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/dlb-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dlb-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DLB correlations · USMV correlations
