LRCX vs MTUM: Correlation
Measured on weekly returns over the past three years, Lam Research (LRCX) and iShares MSCI USA Momentum Factor ETF (MTUM) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LRCX and MTUM?
Across a 3-year window, the weekly returns of LRCX and MTUM correlate at 0.73, strong. Little has changed lately, as the 1-year reading of 0.76 lands near the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 698.6 %².
Within LRCX's tracked universe of 36 assets, MTUM comes in at #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LRCX ahead by 183.8 points (+209.0% versus +25.2%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.23 and 0.86 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since LRCX carries 2.3 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.
LRCX vs MTUM: side by side
| LRCX (Lam Research) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +209.0% | +25.2% |
| 5-year return | +452.0% | +76.1% |
| Volatility (ann.) | 46.7% | 20.6% |
| Beta vs S&P 500 | 2.03 | 1.25 |
| Max drawdown (3Y) | -47.1% | -21.0% |
| Market cap | $398.6B | – |
| P/E (trailing) | 54.4 | – |
| Dividend yield | 0.33% | 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 | LRCX | MTUM |
|---|---|---|
| 2022 | -40.7% | -18.3% |
| 2023 | +88.6% | +9.1% |
| 2024 | -6.8% | +32.9% |
| 2025 | +139.2% | +22.1% |
| 2026 | +86.5% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 3.26% of MTUM is LRCX itself, so the fund partly moves with the stock by construction.
Are LRCX and MTUM good diversifiers for each other?
Only partially. A correlation of 0.73 means LRCX and MTUM 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 LRCX and MTUM?
The LRCX/MTUM correlation stands at 0.73 on a 3-year window (1 year: 0.76, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is MTUM a good diversifier for LRCX?
Only partially. A correlation of 0.73 means LRCX and MTUM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lrcx-vs-mtum.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lrcx-vs-mtum/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LRCX correlations · MTUM correlations
