MVST vs USMV: Correlation
Measured on weekly returns over the past three years, Microvast Holdings, Inc. (MVST) and iShares MSCI USA Min Vol Factor ETF (USMV) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MVST and USMV?
Over the past 3 years, MVST and USMV moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.21) runs above the 3-year figure (-0.15). Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -311.0 %².
Within MVST's tracked universe of 41 assets, USMV comes in at #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months USMV outperformed by 81.3 percentage points (-71.2% for MVST against +10.1% for USMV). Risk is not evenly split, since MVST carries 21.1 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.
MVST vs USMV: side by side
| MVST (Microvast Holdings, Inc.) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | -71.2% | +10.1% |
| 5-year return | -91.6% | +42.3% |
| Volatility (ann.) | 209.2% | 9.9% |
| Beta vs S&P 500 | 0.26 | 0.51 |
| Max drawdown (3Y) | -92.8% | -9.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | US Listed | ETF · US Style |
USMV, iShares's Large Blend fund, carries $23.6B under management, 164 holdings, a 0.15% expense ratio, a 1.48% trailing dividend yield.
Year-by-year returns
| Year | MVST | USMV |
|---|---|---|
| 2022 | -73.0% | -9.4% |
| 2023 | -8.5% | +10.3% |
| 2024 | +47.9% | +15.7% |
| 2025 | +35.3% | +7.6% |
| 2026 | -72.5% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVST and USMV good diversifiers for each other?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between MVST and USMV?
Using weekly returns as of 2026-08-27: -0.15 over 3 years, with 0.21 over the last year and -0.01 over 5 years.
Is USMV a good diversifier for MVST?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
What does a correlation of -0.15 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/mvst-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mvst-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MVST correlations · USMV correlations
