MFG vs MUFG: Correlation
How closely do Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG) and Mitsubishi UFJ Financial Group, Inc. (MUFG) trade together? Their weekly returns over three years give a correlation of 0.87, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MFG and MUFG?
Over the past 3 years, MFG and MUFG moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.90) sits close to the 3-year figure. Over 5 years the correlation is 0.86, and the annualized covariance of weekly returns is 907.6 %².
Few assets follow MFG as closely as MUFG, which ranks #1 of 10 tracked partners. On 12-month performance MFG holds a 12.2-point edge, +59.1% against +46.9%.
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.
MFG vs MUFG: side by side
| MFG (Mizuho Financial Group, Inc. Sponosred ADR (Japan)) | MUFG (Mitsubishi UFJ Financial Group, Inc.) | |
|---|---|---|
| 1-year return | +59.1% | +46.9% |
| 5-year return | +297.9% | +338.5% |
| Volatility (ann.) | 33.9% | 30.7% |
| Beta vs S&P 500 | 1.03 | 0.98 |
| Max drawdown (3Y) | -28.3% | -26.6% |
| Market cap | $126.8B | $252.6B |
| P/E (trailing) | 14.9 | 16.7 |
| Dividend yield | 1387.56% | 383.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MFG | MUFG |
|---|---|---|
| 2022 | +11.4% | +22.2% |
| 2023 | +21.1% | +29.1% |
| 2024 | +47.9% | +40.1% |
| 2025 | +52.5% | +38.0% |
| 2026 | +42.6% | +41.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MFG and MUFG good diversifiers for each other?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between MFG and MUFG?
As of 2026-08-27, the correlation of weekly returns between MFG and MUFG is 0.87 over 3 years, 0.90 over 1 year and 0.86 over 5 years.
Is MUFG a good diversifier for MFG?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.87 mean?
A reading of 0.87 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
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Related comparisons
Hubs: MFG correlations · MUFG correlations
