TDY vs USMV: Correlation
Teledyne Technologies (TDY) and iShares MSCI USA Min Vol Factor ETF (USMV) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TDY and USMV?
Across a 3-year window, the weekly returns of TDY and USMV correlate at 0.57, moderate. The link has loosened recently: the 1-year correlation (0.41) runs below the 3-year figure (0.57). Stretching to 5 years gives 0.66, with an annualized covariance of 124.9 %².
By 3-year correlation, USMV places #11 of the 35 assets tracked against TDY. Over the last 12 months TDY came out ahead by 5.6 percentage points (+15.7% against +10.1%). The rolling one-year correlation moved between 0.35 and 0.75 over the past three years, a moderate range. One caveat on sizing: TDY is 2.2 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.
TDY vs USMV: side by side
| TDY (Teledyne Technologies) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | +15.7% | +10.1% |
| 5-year return | +36.5% | +42.3% |
| Volatility (ann.) | 22.0% | 9.9% |
| Beta vs S&P 500 | 0.76 | 0.51 |
| Max drawdown (3Y) | -18.8% | -9.4% |
| Market cap | $29.0B | – |
| P/E (trailing) | 30.7 | – |
| Dividend yield | 0.00% | 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 | TDY | USMV |
|---|---|---|
| 2022 | -8.5% | -9.4% |
| 2023 | +11.6% | +10.3% |
| 2024 | +4.0% | +15.7% |
| 2025 | +10.0% | +7.6% |
| 2026 | +22.7% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
TDY represents 0.88% of USMV's portfolio, so part of any move in USMV is TDY itself, and the correlation between them is partly mechanical.
Are TDY and USMV good diversifiers for each other?
Only partially. A correlation of 0.57 means TDY and USMV 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 TDY and USMV?
As of 2026-08-27, the correlation of weekly returns between TDY and USMV is 0.57 over 3 years, 0.41 over 1 year and 0.66 over 5 years.
Is USMV a good diversifier for TDY?
Only partially. A correlation of 0.57 means TDY and USMV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/tdy-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tdy-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TDY correlations · USMV correlations
