ECL vs IEFA: Correlation
Ecolab (ECL) and iShares Core MSCI EAFE ETF (IEFA) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECL and IEFA?
On 3 years of weekly data the ECL/IEFA correlation comes out at 0.60, strong. Recent behaviour matches the longer record: 0.53 over 1 year against 0.60 over 3. The 5-year figure is 0.66, and annualized covariance runs at 176.7 %².
Within ECL's tracked universe of 53 assets, IEFA comes in at #15 by 3-year correlation. The last year tells two different stories: IEFA led by 18.7 percentage points, +3.1% for ECL against +21.8% for IEFA. Across three years, the rolling one-year figure varied moderately, from 0.49 to 0.76.
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.
ECL vs IEFA: side by side
| ECL (Ecolab) | IEFA (iShares Core MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +3.1% | +21.8% |
| 5-year return | +34.0% | +54.5% |
| Volatility (ann.) | 19.5% | 15.0% |
| Beta vs S&P 500 | 0.64 | 0.77 |
| Max drawdown (3Y) | -20.1% | -13.8% |
| Market cap | $80.1B | – |
| P/E (trailing) | 39.1 | – |
| Dividend yield | 0.98% | 3.35% |
| Expense ratio | – | 0.07% |
| Assets under management | – | $190.1B |
| Sector / category | Materials | 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 | ECL | IEFA |
|---|---|---|
| 2022 | -37.1% | -15.2% |
| 2023 | +37.9% | +18.0% |
| 2024 | +19.3% | +3.3% |
| 2025 | +13.2% | +32.1% |
| 2026 | +9.5% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECL and IEFA good diversifiers for each other?
To a limited degree. At 0.60 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 ECL and IEFA?
The ECL/IEFA correlation stands at 0.60 on a 3-year window (1 year: 0.53, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is IEFA a good diversifier for ECL?
To a limited degree. At 0.60 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 0.60 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/ecl-vs-iefa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ecl-vs-iefa/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ECL correlations · IEFA correlations
