QUAL vs SNPS: Correlation
iShares MSCI USA Quality Factor ETF (QUAL) and Synopsys (SNPS) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QUAL and SNPS?
Across a 3-year window, the weekly returns of QUAL and SNPS correlate at 0.55, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.55 over 3 years. Stretching to 5 years gives 0.60, with an annualized covariance of 324.9 %².
By 3-year correlation, SNPS places #58 of the 106 assets tracked against QUAL. Their recent paths diverged sharply: over the last 12 months QUAL outperformed by 42.6 percentage points (+19.7% for QUAL against -22.9% for SNPS). This link changes with the market regime, having swung between 0.31 and 0.84 on a rolling one-year basis. Risk is not evenly split, since SNPS carries 3.0 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.
QUAL vs SNPS: side by side
| QUAL (iShares MSCI USA Quality Factor ETF) | SNPS (Synopsys) | |
|---|---|---|
| 1-year return | +19.7% | -22.9% |
| 5-year return | +68.0% | +39.1% |
| Volatility (ann.) | 14.0% | 42.2% |
| Beta vs S&P 500 | 0.93 | 1.57 |
| Max drawdown (3Y) | -18.0% | -42.3% |
| Market cap | – | $89.1B |
| P/E (trailing) | – | 71.4 |
| Dividend yield | 0.86% | 0.00% |
| Expense ratio | 0.15% | – |
| Assets under management | $46.5B | – |
| Sector / category | ETF · US Style | Information Technology |
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 | QUAL | SNPS |
|---|---|---|
| 2022 | -20.5% | -13.4% |
| 2023 | +30.9% | +61.3% |
| 2024 | +22.3% | -5.7% |
| 2025 | +12.7% | -3.2% |
| 2026 | +13.5% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QUAL and SNPS good diversifiers for each other?
Only partially. A correlation of 0.55 means QUAL and SNPS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between QUAL and SNPS?
As of 2026-08-27, the correlation of weekly returns between QUAL and SNPS is 0.55 over 3 years, 0.38 over 1 year and 0.60 over 5 years.
Is SNPS a good diversifier for QUAL?
Only partially. A correlation of 0.55 means QUAL and SNPS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 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.
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Related comparisons
Hubs: QUAL correlations · SNPS correlations
