IVV vs MPWR: Correlation
How closely do iShares Core S&P 500 ETF (IVV) and Monolithic Power Systems (MPWR) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and MPWR?
On 3 years of weekly data the IVV/MPWR correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.58 over 1 year against 0.67 over 3. The 5-year figure is 0.64, and annualized covariance runs at 466.0 %².
By 3-year correlation, MPWR places #55 of the 122 assets tracked against IVV. The last year tells two different stories: MPWR led by 31.7 percentage points, +20.7% for IVV against +52.4% for MPWR. The rolling one-year correlation moved between 0.51 and 0.80 over the past three years, a moderate range. Risk is not evenly split, since MPWR carries 3.3 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.
IVV vs MPWR: side by side
| IVV (iShares Core S&P 500 ETF) | MPWR (Monolithic Power Systems) | |
|---|---|---|
| 1-year return | +20.7% | +52.4% |
| 5-year return | +83.0% | +170.3% |
| Volatility (ann.) | 14.5% | 48.1% |
| Beta vs S&P 500 | 1.00 | 2.22 |
| Max drawdown (3Y) | -18.8% | -51.6% |
| Market cap | – | $64.4B |
| P/E (trailing) | – | 79.4 |
| Dividend yield | 1.09% | 0.55% |
| Expense ratio | 0.03% | – |
| Assets under management | $869.2B | – |
| Sector / category | ETF · US Large Cap | Information Technology |
On the fund side, IVV sits in the Large Blend category at iShares, with $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | IVV | MPWR |
|---|---|---|
| 2022 | -18.2% | -27.8% |
| 2023 | +26.3% | +79.8% |
| 2024 | +24.9% | -5.6% |
| 2025 | +17.8% | +54.5% |
| 2026 | +13.7% | +45.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that IVV holds MPWR at a 0.1% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are IVV and MPWR good diversifiers for each other?
Only partially. A correlation of 0.67 means IVV and MPWR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IVV and MPWR?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.58 over the last year and 0.64 over 5 years.
Is MPWR a good diversifier for IVV?
Only partially. A correlation of 0.67 means IVV and MPWR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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/ivv-vs-mpwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ivv-vs-mpwr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IVV correlations · MPWR correlations
