FDS vs MORN: Correlation
How closely do FactSet (FDS) and Morningstar, Inc. (MORN) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDS and MORN?
Over the past 3 years, FDS and MORN moved with a correlation of 0.70, which is strong. The past 12 months show a tighter link (0.81) than the 3-year average (0.70). Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 676.6 %².
In FDS's tracked universe of 32 assets, MORN sits right near the top at #1. Neither side won the trailing year by much: -18.6% against -16.6%.
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.
FDS vs MORN: side by side
| FDS (FactSet) | MORN (Morningstar, Inc.) | |
|---|---|---|
| 1-year return | -18.6% | -16.6% |
| 5-year return | -15.8% | -15.1% |
| Volatility (ann.) | 31.9% | 30.5% |
| Beta vs S&P 500 | 0.56 | 0.77 |
| Max drawdown (3Y) | -61.1% | -60.0% |
| Market cap | $10.8B | $8.2B |
| P/E (trailing) | 19.5 | 20.2 |
| Dividend yield | 1.51% | 0.92% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | FDS | MORN |
|---|---|---|
| 2022 | -16.7% | -36.3% |
| 2023 | +20.0% | +33.1% |
| 2024 | +1.6% | +18.3% |
| 2025 | -38.9% | -35.1% |
| 2026 | +6.0% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDS and MORN good diversifiers for each other?
To a limited degree. At 0.70 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 FDS and MORN?
As of 2026-08-27, the correlation of weekly returns between FDS and MORN is 0.70 over 3 years, 0.81 over 1 year and 0.66 over 5 years.
Is MORN a good diversifier for FDS?
To a limited degree. At 0.70 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 0.70 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fds-vs-morn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fds-vs-morn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FDS correlations · MORN correlations
