MTUM vs STX: Correlation
Measured on weekly returns over the past three years, iShares MSCI USA Momentum Factor ETF (MTUM) and Seagate Technology (STX) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUM and STX?
On 3 years of weekly data the MTUM/STX correlation comes out at 0.65, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. The 5-year figure is 0.59, and annualized covariance runs at 686.2 %².
By 3-year correlation, STX places #44 of the 109 assets tracked against MTUM. Correlation aside, the last 12 months split them widely, with STX ahead by 385.6 points (+25.2% versus +410.8%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.28 to 0.80. One caveat on sizing: STX is 2.5 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.
MTUM vs STX: side by side
| MTUM (iShares MSCI USA Momentum Factor ETF) | STX (Seagate Technology) | |
|---|---|---|
| 1-year return | +25.2% | +410.8% |
| 5-year return | +76.1% | +1032.5% |
| Volatility (ann.) | 20.6% | 51.3% |
| Beta vs S&P 500 | 1.25 | 1.97 |
| Max drawdown (3Y) | -21.0% | -40.0% |
| Market cap | – | $192.0B |
| P/E (trailing) | – | 61.0 |
| Dividend yield | 0.62% | 0.35% |
| 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 | STX |
|---|---|---|
| 2022 | -18.3% | -51.4% |
| 2023 | +9.1% | +69.1% |
| 2024 | +32.9% | +4.1% |
| 2025 | +22.1% | +225.3% |
| 2026 | +21.8% | +208.4% |
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 STX at a 2.16% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MTUM and STX good diversifiers for each other?
To a limited degree. At 0.65 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 STX?
As of 2026-08-27, the correlation of weekly returns between MTUM and STX is 0.65 over 3 years, 0.67 over 1 year and 0.59 over 5 years.
Is STX a good diversifier for MTUM?
To a limited degree. At 0.65 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 0.65 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/mtum-vs-stx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mtum-vs-stx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MTUM correlations · STX correlations
