GE vs MTUM: Correlation
Measured on weekly returns over the past three years, GE Aerospace (GE) and iShares MSCI USA Momentum Factor ETF (MTUM) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GE and MTUM?
On 3 years of weekly data the GE/MTUM correlation comes out at 0.61, strong. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.61 over 3 years. The 5-year figure is 0.58, and annualized covariance runs at 384.5 %².
Few assets follow GE as closely as MTUM, which ranks #3 of 32 tracked partners. Neither side won the trailing year by much: +26.0% against +25.2%. The relationship is regime-dependent: the rolling one-year correlation swung between 0.28 and 0.84 over the past three years, so this pair behaves very differently depending on the market environment.
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.
GE vs MTUM: side by side
| GE (GE Aerospace) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +26.0% | +25.2% |
| 5-year return | +435.6% | +76.1% |
| Volatility (ann.) | 30.9% | 20.6% |
| Beta vs S&P 500 | 1.24 | 1.25 |
| Max drawdown (3Y) | -21.4% | -21.0% |
| Market cap | $355.6B | – |
| P/E (trailing) | 41.8 | – |
| Dividend yield | 0.47% | 0.62% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.3B |
| Sector / category | Industrials | 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 | GE | MTUM |
|---|---|---|
| 2022 | -10.9% | -18.3% |
| 2023 | +95.7% | +9.1% |
| 2024 | +64.8% | +32.9% |
| 2025 | +85.7% | +22.1% |
| 2026 | +11.6% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GE and MTUM good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GE and MTUM?
The GE/MTUM correlation stands at 0.61 on a 3-year window (1 year: 0.43, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is MTUM a good diversifier for GE?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 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: GE correlations · MTUM correlations
