GIS vs MTUM: Correlation
General Mills (GIS) and iShares MSCI USA Momentum Factor ETF (MTUM) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIS and MTUM?
On 3 years of weekly data the GIS/MTUM correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.19 over 3. The 5-year figure is -0.04, and annualized covariance runs at -81.8 %².
By 3-year correlation, MTUM places #26 of the 38 assets tracked against GIS. The last year tells two different stories: MTUM led by 38.0 percentage points, -12.8% for GIS against +25.2% for MTUM. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.44 to 0.20.
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.
GIS vs MTUM: side by side
| GIS (General Mills) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | -12.8% | +25.2% |
| 5-year return | -14.6% | +76.1% |
| Volatility (ann.) | 20.6% | 20.6% |
| Beta vs S&P 500 | -0.05 | 1.25 |
| Max drawdown (3Y) | -53.4% | -21.0% |
| Market cap | $21.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.09% | 0.62% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.3B |
| Sector / category | Consumer Staples | 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 | GIS | MTUM |
|---|---|---|
| 2022 | +28.1% | -18.3% |
| 2023 | -20.0% | +9.1% |
| 2024 | +1.4% | +32.9% |
| 2025 | -23.7% | +22.1% |
| 2026 | -8.8% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIS and MTUM good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between GIS and MTUM?
As of 2026-08-27, the correlation of weekly returns between GIS and MTUM is -0.19 over 3 years, -0.17 over 1 year and -0.04 over 5 years.
Is MTUM a good diversifier for GIS?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/gis-vs-mtum.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gis-vs-mtum/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GIS correlations · MTUM correlations
