MPWR vs MTUM: Correlation
How closely do Monolithic Power Systems (MPWR) and iShares MSCI USA Momentum Factor ETF (MTUM) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPWR and MTUM?
Over the past 3 years, MPWR and MTUM moved with a correlation of 0.68, which is strong. Recent behaviour matches the longer record: 0.59 over 1 year against 0.68 over 3. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 670.4 %².
In MPWR's tracked universe of 41 assets, MTUM sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months MPWR outperformed by 27.2 percentage points (+52.4% for MPWR against +25.2% for MTUM). Across three years, the rolling one-year figure varied moderately, from 0.29 to 0.77. One caveat on sizing: MPWR is 2.3 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.
MPWR vs MTUM: side by side
| MPWR (Monolithic Power Systems) | MTUM (iShares MSCI USA Momentum Factor ETF) | |
|---|---|---|
| 1-year return | +52.4% | +25.2% |
| 5-year return | +170.3% | +76.1% |
| Volatility (ann.) | 48.1% | 20.6% |
| Beta vs S&P 500 | 2.22 | 1.25 |
| Max drawdown (3Y) | -51.6% | -21.0% |
| Market cap | $64.4B | – |
| P/E (trailing) | 79.4 | – |
| Dividend yield | 0.55% | 0.62% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $25.3B |
| Sector / category | Information Technology | ETF · US Style |
MTUM is a Large Blend fund from iShares: $25.3B under management, 126 holdings, a 0.15% expense ratio, a 0.62% trailing dividend yield.
Year-by-year returns
| Year | MPWR | MTUM |
|---|---|---|
| 2022 | -27.8% | -18.3% |
| 2023 | +79.8% | +9.1% |
| 2024 | -5.6% | +32.9% |
| 2025 | +54.5% | +22.1% |
| 2026 | +45.2% | +21.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that MTUM holds MPWR at a 0.39% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MPWR and MTUM good diversifiers for each other?
Only partially. A correlation of 0.68 means MPWR and MTUM 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 MPWR and MTUM?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.59 over the last year and 0.59 over 5 years.
Is MTUM a good diversifier for MPWR?
Only partially. A correlation of 0.68 means MPWR and MTUM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 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/mpwr-vs-mtum.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mpwr-vs-mtum/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MPWR correlations · MTUM correlations
