MTUM vs NVDA: Correlation
How closely do iShares MSCI USA Momentum Factor ETF (MTUM) and Nvidia (NVDA) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUM and NVDA?
Over the past 3 years, MTUM and NVDA moved with a correlation of 0.71, which is strong. The link has loosened recently: the 1-year correlation (0.54) runs below the 3-year figure (0.71). Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 650.2 %².
Among the 109 assets we track against MTUM, NVDA ranks #26 by 3-year correlation. Twelve-month performance is nearly a tie, at +25.2% for MTUM and +25.7% for NVDA. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.20 to 0.81. Note the risk asymmetry: NVDA runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MTUM vs NVDA: side by side
| MTUM (iShares MSCI USA Momentum Factor ETF) | NVDA (Nvidia) | |
|---|---|---|
| 1-year return | +25.2% | +25.7% |
| 5-year return | +76.1% | +908.3% |
| Volatility (ann.) | 20.6% | 44.5% |
| Beta vs S&P 500 | 1.25 | 2.18 |
| Max drawdown (3Y) | -21.0% | -36.9% |
| Market cap | – | $5,505.0B |
| P/E (trailing) | – | 32.2 |
| Dividend yield | 0.62% | 0.00% |
| Expense ratio | 0.15% | – |
| Assets under management | $25.3B | – |
| Sector / category | ETF · US Style | Information Technology |
MTUM, iShares's Large Blend fund, carries $25.3B under management, 126 holdings, a 0.15% expense ratio, a 0.62% trailing dividend yield.
Year-by-year returns
| Year | MTUM | NVDA |
|---|---|---|
| 2022 | -18.3% | -50.3% |
| 2023 | +9.1% | +239.0% |
| 2024 | +32.9% | +171.2% |
| 2025 | +22.1% | +38.9% |
| 2026 | +21.8% | +22.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUM and NVDA good diversifiers for each other?
To a limited degree. At 0.71 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 MTUM and NVDA?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.54 over the last year and 0.63 over 5 years.
Is NVDA a good diversifier for MTUM?
To a limited degree. At 0.71 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 0.71 mean?
A reading of 0.71 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/mtum-vs-nvda.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtum-vs-nvda/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTUM correlations · NVDA correlations
