ICE vs MCO: Correlation
Intercontinental Exchange (ICE) and Moody's Corporation (MCO) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICE and MCO?
Across a 3-year window, the weekly returns of ICE and MCO correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.51 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.65, with an annualized covariance of 309.4 %².
In ICE's tracked universe of 31 assets, MCO sits right near the top at #3. On 12-month performance MCO holds a 8.6-point edge, -7.9% against +0.7%. On a rolling one-year basis the correlation drifted between 0.46 and 0.75, a moderate band.
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 MCO: side by side
| ICE (Intercontinental Exchange) | MCO (Moody's Corporation) | |
|---|---|---|
| 1-year return | -7.9% | +0.7% |
| 5-year return | +44.2% | +39.4% |
| Volatility (ann.) | 21.2% | 25.8% |
| Beta vs S&P 500 | 0.62 | 1.08 |
| Max drawdown (3Y) | -33.9% | -24.7% |
| Market cap | $90.5B | $88.2B |
| P/E (trailing) | 22.7 | 32.7 |
| Dividend yield | 1.24% | 0.77% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | ICE | MCO |
|---|---|---|
| 2022 | -23.9% | -28.0% |
| 2023 | +27.1% | +41.5% |
| 2024 | +17.5% | +22.2% |
| 2025 | +9.9% | +8.7% |
| 2026 | +0.2% | +0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICE and MCO good diversifiers for each other?
To a limited degree. At 0.57 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 MCO?
As of 2026-08-27, the correlation of weekly returns between ICE and MCO is 0.57 over 3 years, 0.51 over 1 year and 0.65 over 5 years.
Is MCO a good diversifier for ICE?
To a limited degree. At 0.57 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 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ice-vs-mco.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ice-vs-mco/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ICE correlations · MCO correlations
