CHT vs IEFA: Correlation
Measured on weekly returns over the past three years, Chunghwa Telecom Co., Ltd. (CHT) and iShares Core MSCI EAFE ETF (IEFA) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHT and IEFA?
Across a 3-year window, the weekly returns of CHT and IEFA correlate at 0.39, moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.39). Stretching to 5 years gives 0.46, with an annualized covariance of 68.8 %².
Few assets follow CHT as closely as IEFA, which ranks #2 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months IEFA outperformed by 20.2 percentage points (+1.6% for CHT against +21.8% for IEFA).
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.
CHT vs IEFA: side by side
| CHT (Chunghwa Telecom Co., Ltd.) | IEFA (iShares Core MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +1.6% | +21.8% |
| 5-year return | +29.5% | +54.5% |
| Volatility (ann.) | 11.9% | 15.0% |
| Beta vs S&P 500 | 0.20 | 0.77 |
| Max drawdown (3Y) | -11.0% | -13.8% |
| Market cap | $33.3B | – |
| P/E (trailing) | 26.9 | – |
| Dividend yield | 12.12% | 3.35% |
| Expense ratio | – | 0.07% |
| Assets under management | – | $190.1B |
| Sector / category | US Listed | ETF · International |
IEFA, iShares's Foreign Large Blend fund, carries $190.1B under management, 1620 holdings, a 0.07% expense ratio, a 3.35% trailing dividend yield.
Year-by-year returns
| Year | CHT | IEFA |
|---|---|---|
| 2022 | -10.0% | -15.2% |
| 2023 | +11.1% | +18.0% |
| 2024 | +0.2% | +3.3% |
| 2025 | +14.9% | +32.1% |
| 2026 | +7.1% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHT and IEFA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CHT and IEFA?
As of 2026-08-27, the correlation of weekly returns between CHT and IEFA is 0.39 over 3 years, 0.29 over 1 year and 0.46 over 5 years.
Is IEFA a good diversifier for CHT?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/cht-vs-iefa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cht-vs-iefa/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CHT correlations · IEFA correlations
