KLAC vs MTUM: Correlation
Measured on weekly returns over the past three years, KLA Corporation (KLAC) and iShares MSCI USA Momentum Factor ETF (MTUM) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KLAC and MTUM?
Across a 3-year window, the weekly returns of KLAC and MTUM correlate at 0.71, strong. Little has changed lately, as the 1-year reading of 0.70 lands near the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 667.0 %².
Among the 40 assets we track against KLAC, MTUM ranks #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with KLAC ahead by 82.7 points (+107.9% versus +25.2%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.32 to 0.86. One caveat on sizing: KLAC is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
KLAC vs MTUM: side by side
| KLAC (KLA Corporation) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +107.9% | +25.2% |
| 5-year return | +463.9% | +76.1% |
| Volatility (ann.) | 45.6% | 20.6% |
| Beta vs S&P 500 | 1.84 | 1.25 |
| Max drawdown (3Y) | -43.6% | -21.0% |
| Market cap | $240.1B | – |
| P/E (trailing) | 50.2 | – |
| Dividend yield | 0.44% | 0.62% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.3B |
| Sector / category | Information Technology | ETF · US Style |
MTUM is a Large Blend fund from iShares: $25.3B under management, 126 holdings, a 0.15% expense ratio, a 0.62% trailing dividend yield.
Year-by-year returns
| Year | KLAC | MTUM |
|---|---|---|
| 2022 | -11.2% | -18.3% |
| 2023 | +56.0% | +9.1% |
| 2024 | +9.4% | +32.9% |
| 2025 | +94.5% | +22.1% |
| 2026 | +51.8% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.51% of MTUM is KLAC itself, so the fund partly moves with the stock by construction.
Are KLAC and MTUM good diversifiers for each other?
To a limited degree. At 0.71 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 KLAC and MTUM?
As of 2026-08-27, the correlation of weekly returns between KLAC and MTUM is 0.71 over 3 years, 0.70 over 1 year and 0.66 over 5 years.
Is MTUM a good diversifier for KLAC?
To a limited degree. At 0.71 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 0.71 mean?
A reading of 0.71 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: KLAC correlations · MTUM correlations
