GL vs USMV: Correlation
Globe Life (GL) and iShares MSCI USA Min Vol Factor ETF (USMV) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GL and USMV?
On 3 years of weekly data the GL/USMV correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.41 over 3. The 5-year figure is 0.37, and annualized covariance runs at 145.3 %².
By 3-year correlation, USMV places #11 of the 30 assets tracked against GL. Their recent paths diverged sharply: over the last 12 months GL outperformed by 16.0 percentage points (+26.1% for GL against +10.1% for USMV). Across three years, the rolling one-year figure varied moderately, from 0.36 to 0.68. Note the risk asymmetry: GL runs 3.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GL vs USMV: side by side
| GL (Globe Life) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | +26.1% | +10.1% |
| 5-year return | +91.0% | +42.3% |
| Volatility (ann.) | 35.7% | 9.9% |
| Beta vs S&P 500 | 0.60 | 0.51 |
| Max drawdown (3Y) | -61.6% | -9.4% |
| Market cap | $13.5B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 0.68% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | Financials | 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 | GL | USMV |
|---|---|---|
| 2022 | +29.7% | -9.4% |
| 2023 | +1.8% | +10.3% |
| 2024 | -7.5% | +15.7% |
| 2025 | +26.5% | +7.6% |
| 2026 | +26.5% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GL and USMV good diversifiers for each other?
Reasonably. At 0.41, GL and USMV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GL and USMV?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.36 over the last year and 0.37 over 5 years.
Is USMV a good diversifier for GL?
Reasonably. At 0.41, GL and USMV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gl-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gl-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GL correlations · USMV correlations
