DB vs EFA: Correlation
Measured on weekly returns over the past three years, Deutsche Bank AG (DB) and iShares MSCI EAFE ETF (EFA) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DB and EFA?
On 3 years of weekly data the DB/EFA correlation comes out at 0.70, strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. The 5-year figure is 0.68, and annualized covariance runs at 340.6 %².
Among the 11 assets we track against DB, EFA ranks #4 by 3-year correlation. Neither side won the trailing year by much: +18.5% against +21.9%. Risk is not evenly split, since DB carries 2.2 times the volatility of the other side.
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.
DB vs EFA: side by side
| DB (Deutsche Bank AG) | EFA (iShares MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +18.5% | +21.9% |
| 5-year return | +278.5% | +56.7% |
| Volatility (ann.) | 32.7% | 14.9% |
| Beta vs S&P 500 | 1.08 | 0.77 |
| Max drawdown (3Y) | -29.7% | -14.1% |
| Market cap | $75.3B | – |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 2.49% | 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 | DB | EFA |
|---|---|---|
| 2022 | -5.9% | -14.4% |
| 2023 | +21.3% | +18.4% |
| 2024 | +29.5% | +3.5% |
| 2025 | +132.4% | +31.5% |
| 2026 | +7.7% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DB and EFA good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DB and EFA?
As of 2026-08-27, the correlation of weekly returns between DB and EFA is 0.70 over 3 years, 0.68 over 1 year and 0.68 over 5 years.
Is EFA a good diversifier for DB?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
A reading of 0.70 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: DB correlations · EFA correlations
