TMUS vs USMV: Correlation
T-Mobile US (TMUS) 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 TMUS and USMV?
Over the past 3 years, TMUS and USMV moved with a correlation of 0.40, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.19 versus 0.40 over 3 years. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 98.9 %².
In TMUS's tracked universe of 31 assets, USMV sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months USMV outperformed by 38.1 percentage points (-28.0% for TMUS against +10.1% for USMV). Across three years, the rolling one-year figure varied moderately, from 0.20 to 0.66. Note the risk asymmetry: TMUS runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
TMUS vs USMV: side by side
| TMUS (T-Mobile US) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | -28.0% | +10.1% |
| 5-year return | +34.8% | +42.3% |
| Volatility (ann.) | 24.6% | 9.9% |
| Beta vs S&P 500 | 0.36 | 0.51 |
| Max drawdown (3Y) | -37.1% | -9.4% |
| Market cap | $190.7B | – |
| P/E (trailing) | 18.8 | – |
| Dividend yield | 2.27% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | Communication Services | 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 | TMUS | USMV |
|---|---|---|
| 2022 | +20.7% | -9.4% |
| 2023 | +15.0% | +10.3% |
| 2024 | +39.7% | +15.7% |
| 2025 | -6.6% | +7.6% |
| 2026 | -11.6% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.0% of USMV is TMUS itself, so the fund partly moves with the stock by construction.
Are TMUS 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 TMUS and USMV?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.19 over the last year and 0.48 over 5 years.
Is USMV a good diversifier for TMUS?
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/tmus-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tmus-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TMUS correlations · USMV correlations
