GRX vs USMV: Correlation
Measured on weekly returns over the past three years, The Gabelli Healthcare & Wellness Trust (GRX) and iShares MSCI USA Min Vol Factor ETF (USMV) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRX and USMV?
On 3 years of weekly data the GRX/USMV correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.60 over 1 year against 0.67 over 3. The 5-year figure is 0.75, and annualized covariance runs at 100.7 %².
Within GRX's tracked universe of 26 assets, USMV comes in at #5 by 3-year correlation. Their 12-month results are close: +14.3% for GRX against +10.1% for USMV. One caveat on sizing: GRX is 1.5 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.
GRX vs USMV: side by side
| GRX (The Gabelli Healthcare & Wellness Trust) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | +14.3% | +10.1% |
| 5-year return | +1.5% | +42.3% |
| Volatility (ann.) | 15.1% | 9.9% |
| Beta vs S&P 500 | 0.46 | 0.51 |
| Max drawdown (3Y) | -17.9% | -9.4% |
| Market cap | – | – |
| P/E (trailing) | 67.0 | – |
| Dividend yield | 0.00% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | US Listed | 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 | GRX | USMV |
|---|---|---|
| 2022 | -20.0% | -9.4% |
| 2023 | -3.3% | +10.3% |
| 2024 | +9.6% | +15.7% |
| 2025 | +7.0% | +7.6% |
| 2026 | +8.3% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRX and USMV good diversifiers for each other?
Only partially. A correlation of 0.67 means GRX and USMV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GRX and USMV?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.60 over the last year and 0.75 over 5 years.
Is USMV a good diversifier for GRX?
Only partially. A correlation of 0.67 means GRX and USMV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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/grx-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grx-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRX correlations · USMV correlations
