MCK vs USMV: Correlation
How closely do McKesson Corporation (MCK) and iShares MSCI USA Min Vol Factor ETF (USMV) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCK and USMV?
Over the past 3 years, MCK and USMV moved with a correlation of 0.35, which is moderate. Little has changed lately, as the 1-year reading of 0.34 lands near the 3-year figure. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 88.0 %².
By 3-year correlation, USMV places #15 of the 35 assets tracked against MCK. The last year tells two different stories: MCK led by 20.7 percentage points, +30.8% for MCK against +10.1% for USMV. Across three years, the rolling one-year figure varied moderately, from 0.13 to 0.54. One caveat on sizing: MCK is 2.5 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.
MCK vs USMV: side by side
| MCK (McKesson Corporation) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | +30.8% | +10.1% |
| 5-year return | +354.8% | +42.3% |
| Volatility (ann.) | 25.1% | 9.9% |
| Beta vs S&P 500 | 0.16 | 0.51 |
| Max drawdown (3Y) | -27.2% | -9.4% |
| Market cap | $103.8B | – |
| P/E (trailing) | 24.0 | – |
| Dividend yield | 0.37% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | Health Care | ETF · US Style |
USMV, iShares's Large Blend fund, carries $23.6B under management, 164 holdings, a 0.15% expense ratio, a 1.48% trailing dividend yield.
Year-by-year returns
| Year | MCK | USMV |
|---|---|---|
| 2022 | +51.8% | -9.4% |
| 2023 | +24.1% | +10.3% |
| 2024 | +23.7% | +15.7% |
| 2025 | +44.5% | +7.6% |
| 2026 | +8.8% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.35% of USMV is MCK itself, so the fund partly moves with the stock by construction.
Are MCK and USMV good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MCK and USMV?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.34 over the last year and 0.41 over 5 years.
Is USMV a good diversifier for MCK?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
A reading of 0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mck-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mck-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MCK correlations · USMV correlations
