MA vs QUAL: Correlation
Measured on weekly returns over the past three years, Mastercard (MA) and iShares MSCI USA Quality Factor ETF (QUAL) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MA and QUAL?
Across a 3-year window, the weekly returns of MA and QUAL correlate at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.45 versus 0.63 over 3 years. Stretching to 5 years gives 0.67, with an annualized covariance of 170.8 %².
Within MA's tracked universe of 46 assets, QUAL comes in at #7 by 3-year correlation. The last year tells two different stories: QUAL led by 18.9 percentage points, +0.8% for MA against +19.7% for QUAL. The rolling one-year correlation moved between 0.48 and 0.83 over the past three years, a moderate range.
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.
MA vs QUAL: side by side
| MA (Mastercard) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | +0.8% | +19.7% |
| 5-year return | +72.6% | +68.0% |
| Volatility (ann.) | 19.3% | 14.0% |
| Beta vs S&P 500 | 0.77 | 0.93 |
| Max drawdown (3Y) | -20.9% | -18.0% |
| Market cap | $518.4B | – |
| P/E (trailing) | 32.9 | – |
| Dividend yield | 0.56% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | Financials | 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 | MA | QUAL |
|---|---|---|
| 2022 | -2.7% | -20.5% |
| 2023 | +23.4% | +30.9% |
| 2024 | +24.2% | +22.3% |
| 2025 | +9.0% | +12.7% |
| 2026 | +4.2% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QUAL holds MA at a 2.34% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MA and QUAL good diversifiers for each other?
Only partially. A correlation of 0.63 means MA 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 MA and QUAL?
The MA/QUAL correlation stands at 0.63 on a 3-year window (1 year: 0.45, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is QUAL a good diversifier for MA?
Only partially. A correlation of 0.63 means MA 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 0.63 mean?
On the −1 to +1 scale, 0.63 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/ma-vs-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ma-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MA correlations · QUAL correlations
