EDU vs TDF: Correlation
New Oriental Education & Technology Group, Inc. Sponsored (EDU) and Templeton Dragon Fund, Inc. (TDF) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDU and TDF?
Across a 3-year window, the weekly returns of EDU and TDF correlate at 0.38, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.38 over 3. Stretching to 5 years gives 0.46, with an annualized covariance of 360.5 %².
Among the 10 assets we track against EDU, TDF ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EDU ahead by 21.6 points (+25.0% versus +3.4%). Note the risk asymmetry: EDU runs 2.0 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.
EDU vs TDF: side by side
| EDU (New Oriental Education & Technology Group, Inc. Sponsored) | TDF (Templeton Dragon Fund, Inc.) | |
|---|---|---|
| 1-year return | +25.0% | +3.4% |
| 5-year return | +163.1% | -29.3% |
| Volatility (ann.) | 43.3% | 22.2% |
| Beta vs S&P 500 | 0.53 | 0.64 |
| Max drawdown (3Y) | -56.8% | -22.2% |
| Market cap | – | $0.3B |
| P/E (trailing) | 19.2 | 3.6 |
| Dividend yield | 2.08% | 3.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDU | TDF |
|---|---|---|
| 2022 | +65.8% | -32.9% |
| 2023 | +110.5% | -20.1% |
| 2024 | -11.5% | +5.5% |
| 2025 | -14.3% | +37.7% |
| 2026 | +6.5% | -1.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDU and TDF good diversifiers for each other?
Reasonably. At 0.38, EDU and TDF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EDU and TDF?
As of 2026-08-27, the correlation of weekly returns between EDU and TDF is 0.38 over 3 years, 0.40 over 1 year and 0.46 over 5 years.
Is TDF a good diversifier for EDU?
Reasonably. At 0.38, EDU and TDF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/edu-vs-tdf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/edu-vs-tdf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EDU correlations · TDF correlations
