QUAL vs UBER: Correlation
iShares MSCI USA Quality Factor ETF (QUAL) and Uber (UBER) 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 QUAL and UBER?
Over the past 3 years, QUAL and UBER moved with a correlation of 0.53, which is moderate. The link has loosened recently: the 1-year correlation (0.41) runs below the 3-year figure (0.53). Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 271.1 %².
By 3-year correlation, UBER places #63 of the 106 assets tracked against QUAL. Their recent paths diverged sharply: over the last 12 months QUAL outperformed by 39.0 percentage points (+19.7% for QUAL against -19.3% for UBER). On a rolling one-year basis the correlation drifted between 0.33 and 0.72, a moderate band. Risk is not evenly split, since UBER carries 2.6 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 UBER: side by side
| QUAL (iShares MSCI USA Quality Factor ETF) | UBER (Uber) | |
|---|---|---|
| 1-year return | +19.7% | -19.3% |
| 5-year return | +68.0% | +94.4% |
| Volatility (ann.) | 14.0% | 36.7% |
| Beta vs S&P 500 | 0.93 | 1.34 |
| Max drawdown (3Y) | -18.0% | -34.1% |
| Market cap | – | $157.2B |
| P/E (trailing) | – | 17.2 |
| Dividend yield | 0.86% | 0.00% |
| Expense ratio | 0.15% | – |
| Assets under management | $46.5B | – |
| Sector / category | ETF · US Style | Industrials |
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 | UBER |
|---|---|---|
| 2022 | -20.5% | -41.0% |
| 2023 | +30.9% | +149.0% |
| 2024 | +22.3% | -2.0% |
| 2025 | +12.7% | +35.5% |
| 2026 | +13.5% | -5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QUAL and UBER good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between QUAL and UBER?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.41 over the last year and 0.46 over 5 years.
Is UBER a good diversifier for QUAL?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
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/qual-vs-uber.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qual-vs-uber/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QUAL correlations · UBER correlations
