ICE vs MA: Correlation
Intercontinental Exchange (ICE) and Mastercard (MA) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICE and MA?
Over the past 3 years, ICE and MA moved with a correlation of 0.50, which is moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 204.1 %².
Among the 31 assets we track against ICE, MA ranks #13 by 3-year correlation. The trailing year gives MA the advantage: -7.9% versus +0.8%, a 8.7-point spread. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.22 to 0.75.
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.
ICE vs MA: side by side
| ICE (Intercontinental Exchange) | MA (Mastercard) | |
|---|---|---|
| 1-year return | -7.9% | +0.8% |
| 5-year return | +44.2% | +72.6% |
| Volatility (ann.) | 21.2% | 19.3% |
| Beta vs S&P 500 | 0.62 | 0.77 |
| Max drawdown (3Y) | -33.9% | -20.9% |
| Market cap | $90.5B | $518.4B |
| P/E (trailing) | 22.7 | 32.9 |
| Dividend yield | 1.24% | 0.56% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ICE | MA |
|---|---|---|
| 2022 | -23.9% | -2.7% |
| 2023 | +27.1% | +23.4% |
| 2024 | +17.5% | +24.2% |
| 2025 | +9.9% | +9.0% |
| 2026 | +0.2% | +4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICE and MA good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ICE and MA?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.46 over the last year and 0.49 over 5 years.
Is MA a good diversifier for ICE?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/ice-vs-ma.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ice-vs-ma/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ICE correlations · MA correlations
