ALV vs EFA: Correlation
How closely do Autoliv, Inc. (ALV) and iShares MSCI EAFE ETF (EFA) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALV and EFA?
On 3 years of weekly data the ALV/EFA correlation comes out at 0.62, strong. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 239.8 %².
Few assets follow ALV as closely as EFA, which ranks #1 of 16 tracked partners. Their recent paths diverged sharply: over the last 12 months EFA outperformed by 20.6 percentage points (+1.3% for ALV against +21.9% for EFA). One caveat on sizing: ALV is 1.7 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.
ALV vs EFA: side by side
| ALV (Autoliv, Inc.) | EFA (iShares MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +1.3% | +21.9% |
| 5-year return | +58.0% | +56.7% |
| Volatility (ann.) | 25.8% | 14.9% |
| Beta vs S&P 500 | 0.88 | 0.77 |
| Max drawdown (3Y) | -39.3% | -14.1% |
| Market cap | $9.0B | – |
| P/E (trailing) | 14.5 | – |
| Dividend yield | 2.80% | 3.19% |
| Expense ratio | – | 0.32% |
| Assets under management | – | $78.0B |
| Sector / category | US Listed | ETF · International |
EFA is a Foreign Large Blend fund from iShares: $78.0B under management, 666 holdings, a 0.32% expense ratio, a 3.19% trailing dividend yield.
Year-by-year returns
| Year | ALV | EFA |
|---|---|---|
| 2022 | -23.5% | -14.4% |
| 2023 | +48.0% | +18.4% |
| 2024 | -12.7% | +3.5% |
| 2025 | +29.2% | +31.5% |
| 2026 | +5.1% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.88% of EFA is ALV itself, so the fund partly moves with the stock by construction.
Are ALV and EFA good diversifiers for each other?
Only partially. A correlation of 0.62 means ALV and EFA 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 ALV and EFA?
As of 2026-08-27, the correlation of weekly returns between ALV and EFA is 0.62 over 3 years, 0.56 over 1 year and 0.65 over 5 years.
Is EFA a good diversifier for ALV?
Only partially. A correlation of 0.62 means ALV and EFA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ALV correlations · EFA correlations
