ICE vs MORN: Correlation
Intercontinental Exchange (ICE) and Morningstar, Inc. (MORN) 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 MORN?
Over the past 3 years, ICE and MORN moved with a correlation of 0.50, which is moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 320.7 %².
By 3-year correlation, MORN places #14 of the 31 assets tracked against ICE. Over the last 12 months ICE came out ahead by 8.7 percentage points (-7.9% against -16.6%).
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 MORN: side by side
| ICE (Intercontinental Exchange) | MORN (Morningstar, Inc.) | |
|---|---|---|
| 1-year return | -7.9% | -16.6% |
| 5-year return | +44.2% | -15.1% |
| Volatility (ann.) | 21.2% | 30.5% |
| Beta vs S&P 500 | 0.62 | 0.77 |
| Max drawdown (3Y) | -33.9% | -60.0% |
| Market cap | $90.5B | $8.2B |
| P/E (trailing) | 22.7 | 20.2 |
| Dividend yield | 1.24% | 0.92% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ICE | MORN |
|---|---|---|
| 2022 | -23.9% | -36.3% |
| 2023 | +27.1% | +33.1% |
| 2024 | +17.5% | +18.3% |
| 2025 | +9.9% | -35.1% |
| 2026 | +0.2% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICE and MORN 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 MORN?
As of 2026-08-27, the correlation of weekly returns between ICE and MORN is 0.50 over 3 years, 0.58 over 1 year and 0.55 over 5 years.
Is MORN 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-morn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ice-vs-morn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ICE correlations · MORN correlations
