FFIV vs QUAL: Correlation
F5, Inc. (FFIV) and iShares MSCI USA Quality Factor ETF (QUAL) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FFIV and QUAL?
Across a 3-year window, the weekly returns of FFIV and QUAL correlate at 0.43, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.43 over 3 years. Stretching to 5 years gives 0.57, with an annualized covariance of 161.2 %².
Among the 34 assets we track against FFIV, QUAL ranks #10 by 3-year correlation. Over the last 12 months FFIV came out ahead by 9.4 percentage points (+29.1% against +19.7%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.18 to 0.74. Risk is not evenly split, since FFIV carries 1.9 times the volatility of the other side.
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.
FFIV vs QUAL: side by side
| FFIV (F5, Inc.) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | +29.1% | +19.7% |
| 5-year return | +99.3% | +68.0% |
| Volatility (ann.) | 26.6% | 14.0% |
| Beta vs S&P 500 | 0.77 | 0.93 |
| Max drawdown (3Y) | -34.7% | -18.0% |
| Market cap | $23.2B | – |
| P/E (trailing) | 31.8 | – |
| Dividend yield | 0.00% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | Information Technology | ETF · US Style |
QUAL, iShares's Large Blend fund, carries $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | FFIV | QUAL |
|---|---|---|
| 2022 | -41.4% | -20.5% |
| 2023 | +24.7% | +30.9% |
| 2024 | +40.5% | +22.3% |
| 2025 | +1.5% | +12.7% |
| 2026 | +60.7% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QUAL holds FFIV at a 0.14% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are FFIV and QUAL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FFIV and QUAL?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.23 over the last year and 0.57 over 5 years.
Is QUAL a good diversifier for FFIV?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ffiv-vs-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ffiv-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FFIV correlations · QUAL correlations
