LYV vs MTUM: Correlation
Live Nation Entertainment (LYV) and iShares MSCI USA Momentum Factor ETF (MTUM) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYV and MTUM?
Across a 3-year window, the weekly returns of LYV and MTUM correlate at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.36) runs below the 3-year figure (0.52). Stretching to 5 years gives 0.48, with an annualized covariance of 302.8 %².
Among the 35 assets we track against LYV, MTUM ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MTUM outperformed by 16.1 percentage points (+9.1% for LYV against +25.2% for MTUM). Across three years, the rolling one-year figure varied moderately, from 0.30 to 0.70.
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.
LYV vs MTUM: side by side
| LYV (Live Nation Entertainment) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +9.1% | +25.2% |
| 5-year return | +108.7% | +76.1% |
| Volatility (ann.) | 28.1% | 20.6% |
| Beta vs S&P 500 | 1.02 | 1.25 |
| Max drawdown (3Y) | -27.8% | -21.0% |
| Market cap | $42.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.62% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.3B |
| Sector / category | Communication Services | 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 | LYV | MTUM |
|---|---|---|
| 2022 | -41.7% | -18.3% |
| 2023 | +34.2% | +9.1% |
| 2024 | +38.4% | +32.9% |
| 2025 | +10.0% | +22.1% |
| 2026 | +26.8% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYV and MTUM good diversifiers for each other?
Only partially. A correlation of 0.52 means LYV 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 LYV and MTUM?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.36 over the last year and 0.48 over 5 years.
Is MTUM a good diversifier for LYV?
Only partially. A correlation of 0.52 means LYV 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 0.52 mean?
On the −1 to +1 scale, 0.52 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.
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Related comparisons
Hubs: LYV correlations · MTUM correlations
