LYV vs QUAL: Correlation
Measured on weekly returns over the past three years, Live Nation Entertainment (LYV) and iShares MSCI USA Quality Factor ETF (QUAL) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYV and QUAL?
Over the past 3 years, LYV and QUAL moved with a correlation of 0.52, which is moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.52). Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 204.0 %².
Among the 35 assets we track against LYV, QUAL ranks #11 by 3-year correlation. On 12-month performance QUAL holds a 10.6-point edge, +9.1% against +19.7%. On a rolling one-year basis the correlation drifted between 0.28 and 0.67, a moderate band. One caveat on sizing: LYV is 2.0 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.
LYV vs QUAL: side by side
| LYV (Live Nation Entertainment) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | +9.1% | +19.7% |
| 5-year return | +108.7% | +68.0% |
| Volatility (ann.) | 28.1% | 14.0% |
| Beta vs S&P 500 | 1.02 | 0.93 |
| Max drawdown (3Y) | -27.8% | -18.0% |
| Market cap | $42.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | Communication Services | 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 | LYV | QUAL |
|---|---|---|
| 2022 | -41.7% | -20.5% |
| 2023 | +34.2% | +30.9% |
| 2024 | +38.4% | +22.3% |
| 2025 | +10.0% | +12.7% |
| 2026 | +26.8% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYV and QUAL good diversifiers for each other?
Only partially. A correlation of 0.52 means LYV and QUAL 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 QUAL?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.30 over the last year and 0.54 over 5 years.
Is QUAL a good diversifier for LYV?
Only partially. A correlation of 0.52 means LYV and QUAL 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lyv-vs-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lyv-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LYV correlations · QUAL correlations
