MSCI vs NDAQ: Correlation
MSCI (MSCI) and Nasdaq, Inc. (NDAQ) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSCI and NDAQ?
On 3 years of weekly data the MSCI/NDAQ correlation comes out at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. The 5-year figure is 0.63, and annualized covariance runs at 319.6 %².
Among the 27 assets we track against MSCI, NDAQ ranks #4 by 3-year correlation. Their 12-month results are close: +1.3% for MSCI against +6.1% for NDAQ. On a rolling one-year basis the correlation drifted between 0.30 and 0.66, a moderate band.
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.
MSCI vs NDAQ: side by side
| MSCI (MSCI) | NDAQ (Nasdaq, Inc.) | |
|---|---|---|
| 1-year return | +1.3% | +6.1% |
| 5-year return | -5.6% | +64.4% |
| Volatility (ann.) | 25.4% | 23.2% |
| Beta vs S&P 500 | 0.85 | 0.80 |
| Max drawdown (3Y) | -26.0% | -23.4% |
| Market cap | $41.4B | $55.5B |
| P/E (trailing) | 30.9 | 29.0 |
| Dividend yield | 1.36% | 1.13% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | MSCI | NDAQ |
|---|---|---|
| 2022 | -23.3% | -11.2% |
| 2023 | +22.9% | -3.7% |
| 2024 | +7.3% | +34.8% |
| 2025 | -3.2% | +27.2% |
| 2026 | +0.3% | +3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSCI and NDAQ good diversifiers for each other?
To a limited degree. At 0.54 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 MSCI and NDAQ?
The MSCI/NDAQ correlation stands at 0.54 on a 3-year window (1 year: 0.60, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is NDAQ a good diversifier for MSCI?
To a limited degree. At 0.54 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 0.54 mean?
A reading of 0.54 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/msci-vs-ndaq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/msci-vs-ndaq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MSCI correlations · NDAQ correlations
