QUAL vs TJX: Correlation
iShares MSCI USA Quality Factor ETF (QUAL) and TJX Companies (TJX) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QUAL and TJX?
On 3 years of weekly data the QUAL/TJX correlation comes out at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.27 versus 0.44 over 3 years. The 5-year figure is 0.56, and annualized covariance runs at 111.7 %².
Among the 106 assets we track against QUAL, TJX ranks #81 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months QUAL outperformed by 20.7 percentage points (+19.7% for QUAL against -1.0% for TJX). Across three years, the rolling one-year figure varied moderately, from 0.26 to 0.67.
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 TJX: side by side
| QUAL (iShares MSCI USA Quality Factor ETF) | TJX (TJX Companies) | |
|---|---|---|
| 1-year return | +19.7% | -1.0% |
| 5-year return | +68.0% | +98.2% |
| Volatility (ann.) | 14.0% | 18.3% |
| Beta vs S&P 500 | 0.93 | 0.45 |
| Max drawdown (3Y) | -18.0% | -20.1% |
| Market cap | – | $148.3B |
| P/E (trailing) | – | 24.9 |
| Dividend yield | 0.86% | 1.32% |
| Expense ratio | 0.15% | – |
| Assets under management | $46.5B | – |
| Sector / category | ETF · US Style | Consumer Discretionary |
QUAL is a Large Blend fund from iShares: $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | QUAL | TJX |
|---|---|---|
| 2022 | -20.5% | +6.7% |
| 2023 | +30.9% | +19.7% |
| 2024 | +22.3% | +30.6% |
| 2025 | +12.7% | +28.7% |
| 2026 | +13.5% | -11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 3.4% of QUAL is TJX itself, so the fund partly moves with the stock by construction.
Are QUAL and TJX good diversifiers for each other?
Reasonably. At 0.44, QUAL and TJX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between QUAL and TJX?
The QUAL/TJX correlation stands at 0.44 on a 3-year window (1 year: 0.27, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is TJX a good diversifier for QUAL?
Reasonably. At 0.44, QUAL and TJX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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.
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Related comparisons
Hubs: QUAL correlations · TJX correlations
