GD vs USMV: Correlation
General Dynamics (GD) and iShares MSCI USA Min Vol Factor ETF (USMV) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GD and USMV?
Across a 3-year window, the weekly returns of GD and USMV correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 101.4 %².
Within GD's tracked universe of 30 assets, USMV comes in at #12 by 3-year correlation. On 12-month performance GD holds a 8.7-point edge, +18.8% against +10.1%. Across three years, the rolling one-year figure varied moderately, from 0.29 to 0.64. One caveat on sizing: GD is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GD vs USMV: side by side
| GD (General Dynamics) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | +18.8% | +10.1% |
| 5-year return | +111.9% | +42.3% |
| Volatility (ann.) | 21.1% | 9.9% |
| Beta vs S&P 500 | 0.52 | 0.51 |
| Max drawdown (3Y) | -22.5% | -9.4% |
| Market cap | $102.8B | – |
| P/E (trailing) | 23.3 | – |
| Dividend yield | 1.62% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | Industrials | ETF · US Style |
USMV, iShares's Large Blend fund, carries $23.6B under management, 164 holdings, a 0.15% expense ratio, a 1.48% trailing dividend yield.
Year-by-year returns
| Year | GD | USMV |
|---|---|---|
| 2022 | +21.7% | -9.4% |
| 2023 | +7.1% | +10.3% |
| 2024 | +3.5% | +15.7% |
| 2025 | +30.4% | +7.6% |
| 2026 | +14.4% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.07% of USMV is GD itself, so the fund partly moves with the stock by construction.
Are GD and USMV good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GD and USMV?
As of 2026-08-27, the correlation of weekly returns between GD and USMV is 0.48 over 3 years, 0.40 over 1 year and 0.54 over 5 years.
Is USMV a good diversifier for GD?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gd-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gd-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GD correlations · USMV correlations
