MSI vs QUAL: Correlation
Measured on weekly returns over the past three years, Motorola Solutions (MSI) and iShares MSCI USA Quality Factor ETF (QUAL) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSI and QUAL?
Across a 3-year window, the weekly returns of MSI and QUAL correlate at 0.45, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.45 over 3 years. Stretching to 5 years gives 0.55, with an annualized covariance of 138.8 %².
Within MSI's tracked universe of 32 assets, QUAL comes in at #10 by 3-year correlation. Over the last 12 months QUAL came out ahead by 13.8 percentage points (+5.9% against +19.7%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.09 to 0.67. Risk is not evenly split, since MSI carries 1.6 times the volatility of the other side.
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.
MSI vs QUAL: side by side
| MSI (Motorola Solutions) | QUAL (iShares MSCI USA Quality Factor ETF) | |
|---|---|---|
| 1-year return | +5.9% | +19.7% |
| 5-year return | +111.1% | +68.0% |
| Volatility (ann.) | 22.1% | 14.0% |
| Beta vs S&P 500 | 0.61 | 0.93 |
| Max drawdown (3Y) | -27.0% | -18.0% |
| Market cap | $80.5B | – |
| P/E (trailing) | 38.5 | – |
| Dividend yield | 0.97% | 0.86% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $46.5B |
| Sector / category | Information Technology | ETF · US Style |
QUAL, iShares's Large Blend fund, carries $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | MSI | QUAL |
|---|---|---|
| 2022 | -3.8% | -20.5% |
| 2023 | +23.0% | +30.9% |
| 2024 | +49.1% | +22.3% |
| 2025 | -16.2% | +12.7% |
| 2026 | +27.6% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that QUAL holds MSI at a 0.45% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MSI and QUAL good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MSI and QUAL?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.15 over the last year and 0.55 over 5 years.
Is QUAL a good diversifier for MSI?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 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/msi-vs-qual.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/msi-vs-qual/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MSI correlations · QUAL correlations
