ISRG vs QUAL: Correlation
Intuitive Surgical (ISRG) and iShares MSCI USA Quality Factor ETF (QUAL) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ISRG and QUAL?
Over the past 3 years, ISRG and QUAL moved with a correlation of 0.58, which is moderate. The link has loosened recently: the 1-year correlation (0.42) runs below the 3-year figure (0.58). Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 250.0 %².
QUAL is one of the assets that tracks ISRG most closely: it ranks #2 out of the 36 assets we track against ISRG. The last year tells two different stories: QUAL led by 41.8 percentage points, -22.1% for ISRG against +19.7% for QUAL. The rolling one-year correlation moved between 0.35 and 0.77 over the past three years, a moderate range. Risk is not evenly split, since ISRG carries 2.2 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.
ISRG vs QUAL: side by side
| ISRG (Intuitive Surgical) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | -22.1% | +19.7% |
| 5-year return | +4.0% | +68.0% |
| Volatility (ann.) | 31.1% | 14.0% |
| Beta vs S&P 500 | 1.20 | 0.93 |
| Max drawdown (3Y) | -45.6% | -18.0% |
| Market cap | $131.5B | – |
| P/E (trailing) | 42.5 | – |
| Dividend yield | 0.00% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | Health Care | ETF · US Style |
QUAL, iShares's Large Blend fund, carries $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | ISRG | QUAL |
|---|---|---|
| 2022 | -26.1% | -20.5% |
| 2023 | +27.1% | +30.9% |
| 2024 | +54.7% | +22.3% |
| 2025 | +8.5% | +12.7% |
| 2026 | -35.2% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ISRG and QUAL good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ISRG and QUAL?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.42 over the last year and 0.66 over 5 years.
Is QUAL a good diversifier for ISRG?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/isrg-vs-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/isrg-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ISRG correlations · QUAL correlations
