DLR vs MTUM: Correlation
How closely do Digital Realty (DLR) and iShares MSCI USA Momentum Factor ETF (MTUM) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLR and MTUM?
Over the past 3 years, DLR and MTUM moved with a correlation of 0.46, which is moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.46 over 3. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 258.5 %².
Among the 30 assets we track against DLR, MTUM ranks #12 by 3-year correlation. On 12-month performance MTUM holds a 8.8-point edge, +16.4% against +25.2%. The rolling one-year correlation moved between 0.26 and 0.63 over the past three years, a moderate range.
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.
DLR vs MTUM: side by side
| DLR (Digital Realty) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +16.4% | +25.2% |
| 5-year return | +40.3% | +76.1% |
| Volatility (ann.) | 27.1% | 20.6% |
| Beta vs S&P 500 | 0.73 | 1.25 |
| Max drawdown (3Y) | -29.4% | -21.0% |
| Market cap | $72.5B | – |
| P/E (trailing) | 94.2 | – |
| Dividend yield | 2.52% | 0.62% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.3B |
| Sector / category | Real Estate | 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 | DLR | MTUM |
|---|---|---|
| 2022 | -41.0% | -18.3% |
| 2023 | +39.9% | +9.1% |
| 2024 | +35.9% | +32.9% |
| 2025 | -10.1% | +22.1% |
| 2026 | +25.8% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLR and MTUM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DLR and MTUM?
As of 2026-08-27, the correlation of weekly returns between DLR and MTUM is 0.46 over 3 years, 0.41 over 1 year and 0.44 over 5 years.
Is MTUM a good diversifier for DLR?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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: DLR correlations · MTUM correlations
