DMC vs MTUM: Correlation
Measured on weekly returns over the past three years, Del Monte Corporation (DMC) and iShares MSCI USA Momentum Factor ETF (MTUM) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMC and MTUM?
Across a 3-year window, the weekly returns of DMC and MTUM correlate at -0.16, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. Stretching to 5 years gives 0.07, with an annualized covariance of -85.5 %².
Within DMC's tracked universe of 17 assets, MTUM comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MTUM outperformed by 36.3 percentage points (-11.1% for DMC against +25.2% for MTUM).
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.
DMC vs MTUM: side by side
| DMC (Del Monte Corporation) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | -11.1% | +25.2% |
| 5-year return | +13.3% | +76.1% |
| Volatility (ann.) | 25.4% | 20.6% |
| Beta vs S&P 500 | -0.11 | 1.25 |
| Max drawdown (3Y) | -36.5% | -21.0% |
| Market cap | $1.5B | – |
| P/E (trailing) | 44.2 | – |
| Dividend yield | 3.80% | 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 | DMC | MTUM |
|---|---|---|
| 2022 | -3.0% | -18.3% |
| 2023 | +3.1% | +9.1% |
| 2024 | +31.3% | +32.9% |
| 2025 | +11.1% | +22.1% |
| 2026 | -9.6% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMC and MTUM good diversifiers for each other?
Yes. With a correlation of -0.16, DMC and MTUM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DMC and MTUM?
The DMC/MTUM correlation stands at -0.16 on a 3-year window (1 year: -0.20, 5 years: 0.07), computed from weekly returns as of 2026-08-27.
Is MTUM a good diversifier for DMC?
Yes. With a correlation of -0.16, DMC and MTUM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: DMC correlations · MTUM correlations
