FUN vs MTUM: Correlation
Six Flags Entertainment Corporation (FUN) and iShares MSCI USA Momentum Factor ETF (MTUM) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUN and MTUM?
Across a 3-year window, the weekly returns of FUN and MTUM correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Stretching to 5 years gives 0.43, with an annualized covariance of 446.9 %².
Among the 12 assets we track against FUN, MTUM ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MTUM outperformed by 57.9 percentage points (-32.7% for FUN against +25.2% for MTUM). Risk is not evenly split, since FUN carries 2.4 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.
FUN vs MTUM: side by side
| FUN (Six Flags Entertainment Corporation) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | -32.7% | +25.2% |
| 5-year return | -61.4% | +76.1% |
| Volatility (ann.) | 49.2% | 20.6% |
| Beta vs S&P 500 | 1.35 | 1.25 |
| Max drawdown (3Y) | -77.7% | -21.0% |
| Market cap | $1.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | FUN | MTUM |
|---|---|---|
| 2022 | -16.2% | -18.3% |
| 2023 | -1.0% | +9.1% |
| 2024 | +22.8% | +32.9% |
| 2025 | -68.2% | +22.1% |
| 2026 | +4.0% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUN and MTUM good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FUN and MTUM?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.52 over the last year and 0.43 over 5 years.
Is MTUM a good diversifier for FUN?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
A reading of 0.44 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/fun-vs-mtum.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fun-vs-mtum/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FUN correlations · MTUM correlations
