BUD vs EFA: Correlation
How closely do Anheuser-Busch Inbev SA Sponsored ADR (Belgium) (BUD) and iShares MSCI EAFE ETF (EFA) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BUD and EFA?
On 3 years of weekly data the BUD/EFA correlation comes out at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 200.1 %².
By 3-year correlation, EFA places #5 of the 15 assets tracked against BUD. Over the last 12 months BUD came out ahead by 5.9 percentage points (+27.8% against +21.9%). Note the risk asymmetry: BUD runs 1.8 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.
BUD vs EFA: side by side
| BUD (Anheuser-Busch Inbev SA Sponsored ADR (Belgium)) | EFA (iShares MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +27.8% | +21.9% |
| 5-year return | +39.0% | +56.7% |
| Volatility (ann.) | 26.7% | 14.9% |
| Beta vs S&P 500 | 0.38 | 0.77 |
| Max drawdown (3Y) | -31.5% | -14.1% |
| Market cap | $155.8B | – |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 1.50% | 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 | BUD | EFA |
|---|---|---|
| 2022 | +0.1% | -14.4% |
| 2023 | +9.0% | +18.4% |
| 2024 | -21.4% | +3.5% |
| 2025 | +30.1% | +31.5% |
| 2026 | +25.4% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BUD and EFA good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BUD and EFA?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.53 over the last year and 0.57 over 5 years.
Is EFA a good diversifier for BUD?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
A reading of 0.50 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/bud-vs-efa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bud-vs-efa/)
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Related comparisons
Hubs: BUD correlations · EFA correlations
