MORN vs NDAQ: Correlation
Morningstar, Inc. (MORN) and Nasdaq, Inc. (NDAQ) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MORN and NDAQ?
Over the past 3 years, MORN and NDAQ moved with a correlation of 0.63, which is strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 444.3 %².
By 3-year correlation, NDAQ places #4 of the 21 assets tracked against MORN. Correlation aside, the last 12 months split them widely, with NDAQ ahead by 22.7 points (-16.6% versus +6.1%).
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.
MORN vs NDAQ: side by side
| MORN (Morningstar, Inc.) | NDAQ (Nasdaq, Inc.) | |
|---|---|---|
| 1-year return | -16.6% | +6.1% |
| 5-year return | -15.1% | +64.4% |
| Volatility (ann.) | 30.5% | 23.2% |
| Beta vs S&P 500 | 0.77 | 0.80 |
| Max drawdown (3Y) | -60.0% | -23.4% |
| Market cap | $8.2B | $55.5B |
| P/E (trailing) | 20.2 | 29.0 |
| Dividend yield | 0.92% | 1.13% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | MORN | NDAQ |
|---|---|---|
| 2022 | -36.3% | -11.2% |
| 2023 | +33.1% | -3.7% |
| 2024 | +18.3% | +34.8% |
| 2025 | -35.1% | +27.2% |
| 2026 | +1.5% | +3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MORN and NDAQ good diversifiers for each other?
To a limited degree. At 0.63 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 MORN and NDAQ?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.71 over the last year and 0.64 over 5 years.
Is NDAQ a good diversifier for MORN?
To a limited degree. At 0.63 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 0.63 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/morn-vs-ndaq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/morn-vs-ndaq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MORN correlations · NDAQ correlations
