MANH vs MSCI: Correlation
How closely do Manhattan Associates, Inc. (MANH) and MSCI (MSCI) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MANH and MSCI?
Across a 3-year window, the weekly returns of MANH and MSCI correlate at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.40) runs below the 3-year figure (0.52). Stretching to 5 years gives 0.53, with an annualized covariance of 549.6 %².
Within MANH's tracked universe of 13 assets, MSCI comes in at #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +2.2% for MANH and +1.3% for MSCI. Note the risk asymmetry: MANH runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MANH vs MSCI: side by side
| MANH (Manhattan Associates, Inc.) | MSCI (MSCI) | |
|---|---|---|
| 1-year return | +2.2% | +1.3% |
| 5-year return | +35.7% | -5.6% |
| Volatility (ann.) | 41.7% | 25.4% |
| Beta vs S&P 500 | 1.25 | 0.85 |
| Max drawdown (3Y) | -61.0% | -26.0% |
| Market cap | $13.0B | $41.4B |
| P/E (trailing) | 63.9 | 30.9 |
| Dividend yield | 0.00% | 1.36% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | MANH | MSCI |
|---|---|---|
| 2022 | -21.9% | -23.3% |
| 2023 | +77.4% | +22.9% |
| 2024 | +25.5% | +7.3% |
| 2025 | -35.9% | -3.2% |
| 2026 | +29.1% | +0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MANH and MSCI good diversifiers for each other?
To a limited degree. At 0.52 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 MANH and MSCI?
As of 2026-08-27, the correlation of weekly returns between MANH and MSCI is 0.52 over 3 years, 0.40 over 1 year and 0.53 over 5 years.
Is MSCI a good diversifier for MANH?
To a limited degree. At 0.52 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 0.52 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/manh-vs-msci.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/manh-vs-msci/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MANH correlations · MSCI correlations
