SJM vs USMV: Correlation
J.M. Smucker Company (The) (SJM) and iShares MSCI USA Min Vol Factor ETF (USMV) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SJM and USMV?
On 3 years of weekly data the SJM/USMV correlation comes out at 0.40, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.53 versus 0.40 over 3 years. The 5-year figure is 0.33, and annualized covariance runs at 103.7 %².
Within SJM's tracked universe of 33 assets, USMV comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SJM ahead by 19.8 points (+29.9% versus +10.1%). The rolling one-year correlation moved between 0.23 and 0.58 over the past three years, a moderate range. One caveat on sizing: SJM is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SJM vs USMV: side by side
| SJM (J.M. Smucker Company (The)) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | +29.9% | +10.1% |
| 5-year return | +28.2% | +42.3% |
| Volatility (ann.) | 26.0% | 9.9% |
| Beta vs S&P 500 | 0.21 | 0.51 |
| Max drawdown (3Y) | -32.5% | -9.4% |
| Market cap | $14.1B | – |
| P/E (trailing) | 61.3 | – |
| Dividend yield | 3.38% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | Consumer Staples | 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 | SJM | USMV |
|---|---|---|
| 2022 | +20.1% | -9.4% |
| 2023 | -17.8% | +10.3% |
| 2024 | -9.6% | +15.7% |
| 2025 | -7.6% | +7.6% |
| 2026 | +38.9% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SJM and USMV good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SJM and USMV?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.53 over the last year and 0.33 over 5 years.
Is USMV a good diversifier for SJM?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 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/sjm-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sjm-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SJM correlations · USMV correlations
