ROP vs USMV: Correlation
How closely do Roper Technologies (ROP) and iShares MSCI USA Min Vol Factor ETF (USMV) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ROP and USMV?
Across a 3-year window, the weekly returns of ROP and USMV correlate at 0.57, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.57 over 3 years. Stretching to 5 years gives 0.70, with an annualized covariance of 116.5 %².
Within ROP's tracked universe of 47 assets, USMV comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with USMV ahead by 29.4 points (-19.3% versus +10.1%). Across three years, the rolling one-year figure varied moderately, from 0.37 to 0.83. Risk is not evenly split, since ROP carries 2.1 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.
ROP vs USMV: side by side
| ROP (Roper Technologies) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | -19.3% | +10.1% |
| 5-year return | -9.6% | +42.3% |
| Volatility (ann.) | 20.5% | 9.9% |
| Beta vs S&P 500 | 0.55 | 0.51 |
| Max drawdown (3Y) | -46.5% | -9.4% |
| Market cap | $41.8B | – |
| P/E (trailing) | 17.6 | – |
| Dividend yield | 0.86% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | Information Technology | 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 | ROP | USMV |
|---|---|---|
| 2022 | -11.6% | -9.4% |
| 2023 | +26.9% | +10.3% |
| 2024 | -4.1% | +15.7% |
| 2025 | -13.8% | +7.6% |
| 2026 | -4.4% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.02% of USMV is ROP itself, so the fund partly moves with the stock by construction.
Are ROP and USMV good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ROP and USMV?
The ROP/USMV correlation stands at 0.57 on a 3-year window (1 year: 0.38, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is USMV a good diversifier for ROP?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rop-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rop-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ROP correlations · USMV correlations
