MTUM vs TDG: Correlation
iShares MSCI USA Momentum Factor ETF (MTUM) and TransDigm Group (TDG) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUM and TDG?
Across a 3-year window, the weekly returns of MTUM and TDG correlate at 0.53, moderate. The link has loosened recently: the 1-year correlation (0.42) runs below the 3-year figure (0.53). Stretching to 5 years gives 0.58, with an annualized covariance of 276.8 %².
Among the 109 assets we track against MTUM, TDG ranks #74 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MTUM ahead by 34.3 points (+25.2% versus -9.1%). Across three years, the rolling one-year figure varied moderately, from 0.27 to 0.73.
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 TDG: side by side
| MTUM (iShares MSCI USA Momentum Factor ETF) | TDG (TransDigm Group) | |
|---|---|---|
| 1-year return | +25.2% | -9.1% |
| 5-year return | +76.1% | +136.5% |
| Volatility (ann.) | 20.6% | 25.5% |
| Beta vs S&P 500 | 1.25 | 0.91 |
| Max drawdown (3Y) | -21.0% | -25.3% |
| Market cap | – | $65.6B |
| P/E (trailing) | – | 36.6 |
| Dividend yield | 0.62% | 0.00% |
| Expense ratio | 0.15% | – |
| Assets under management | $25.3B | – |
| Sector / category | ETF · US Style | Industrials |
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 | MTUM | TDG |
|---|---|---|
| 2022 | -18.3% | +1.8% |
| 2023 | +9.1% | +66.6% |
| 2024 | +32.9% | +32.3% |
| 2025 | +22.1% | +12.2% |
| 2026 | +21.8% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUM and TDG good diversifiers for each other?
To a limited degree. At 0.53 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 TDG?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.42 over the last year and 0.58 over 5 years.
Is TDG a good diversifier for MTUM?
To a limited degree. At 0.53 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 0.53 mean?
On the −1 to +1 scale, 0.53 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/mtum-vs-tdg.json
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Related comparisons
Hubs: MTUM correlations · TDG correlations
