DB vs IEFA: Correlation
Measured on weekly returns over the past three years, Deutsche Bank AG (DB) and iShares Core MSCI EAFE ETF (IEFA) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DB and IEFA?
On 3 years of weekly data the DB/IEFA correlation comes out at 0.69, strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.69 over 3. The 5-year figure is 0.67, and annualized covariance runs at 338.8 %².
Among the 11 assets we track against DB, IEFA ranks #6 by 3-year correlation. Neither side won the trailing year by much: +18.5% against +21.8%. Note the risk asymmetry: DB runs 2.2 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.
DB vs IEFA: side by side
| DB (Deutsche Bank AG) | IEFA (iShares Core MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +18.5% | +21.8% |
| 5-year return | +278.5% | +54.5% |
| Volatility (ann.) | 32.7% | 15.0% |
| Beta vs S&P 500 | 1.08 | 0.77 |
| Max drawdown (3Y) | -29.7% | -13.8% |
| Market cap | $75.3B | – |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 2.49% | 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 | DB | IEFA |
|---|---|---|
| 2022 | -5.9% | -15.2% |
| 2023 | +21.3% | +18.0% |
| 2024 | +29.5% | +3.3% |
| 2025 | +132.4% | +32.1% |
| 2026 | +7.7% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DB and IEFA good diversifiers for each other?
Only partially. A correlation of 0.69 means DB and IEFA 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 DB and IEFA?
As of 2026-08-27, the correlation of weekly returns between DB and IEFA is 0.69 over 3 years, 0.68 over 1 year and 0.67 over 5 years.
Is IEFA a good diversifier for DB?
Only partially. A correlation of 0.69 means DB and IEFA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 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/db-vs-iefa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/db-vs-iefa/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DB correlations · IEFA correlations
