IBM vs USMV: Correlation
How closely do IBM (IBM) and iShares MSCI USA Min Vol Factor ETF (USMV) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBM and USMV?
Over the past 3 years, IBM and USMV moved with a correlation of 0.44, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 150.2 %².
Within IBM's tracked universe of 28 assets, USMV comes in at #5 by 3-year correlation. Over the last 12 months USMV came out ahead by 10.0 percentage points (+0.1% against +10.1%). On a rolling one-year basis the correlation drifted between 0.30 and 0.72, a moderate band. Risk is not evenly split, since IBM carries 3.5 times the volatility of the other side.
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.
IBM vs USMV: side by side
| IBM (IBM) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | +0.1% | +10.1% |
| 5-year return | +117.6% | +42.3% |
| Volatility (ann.) | 34.7% | 9.9% |
| Beta vs S&P 500 | 0.78 | 0.51 |
| Max drawdown (3Y) | -37.5% | -9.4% |
| Market cap | $225.0B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 2.93% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | Information Technology | 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 | IBM | USMV |
|---|---|---|
| 2022 | +10.6% | -9.4% |
| 2023 | +21.8% | +10.3% |
| 2024 | +39.3% | +15.7% |
| 2025 | +38.2% | +7.6% |
| 2026 | -17.7% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.03% of USMV is IBM itself, so the fund partly moves with the stock by construction.
Are IBM and USMV good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IBM and USMV?
As of 2026-08-27, the correlation of weekly returns between IBM and USMV is 0.44 over 3 years, 0.48 over 1 year and 0.43 over 5 years.
Is USMV a good diversifier for IBM?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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/ibm-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibm-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IBM correlations · USMV correlations
