EEM vs MU: Correlation
How closely do iShares MSCI Emerging Markets ETF (EEM) and Micron Technology (MU) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EEM and MU?
Over the past 3 years, EEM and MU moved with a correlation of 0.66, which is strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 750.3 %².
By 3-year correlation, MU places #25 of the 67 assets tracked against EEM. The last year tells two different stories: MU led by 657.6 percentage points, +38.1% for EEM against +695.7% for MU. On a rolling one-year basis the correlation drifted between 0.38 and 0.75, a moderate band. One caveat on sizing: MU is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EEM vs MU: side by side
| EEM (iShares MSCI Emerging Markets ETF) | MU (Micron Technology) | |
|---|---|---|
| 1-year return | +38.1% | +695.7% |
| 5-year return | +47.1% | +1211.2% |
| Volatility (ann.) | 18.0% | 63.3% |
| Beta vs S&P 500 | 0.85 | 2.47 |
| Max drawdown (3Y) | -17.3% | -57.6% |
| Market cap | – | – |
| P/E (trailing) | – | 21.2 |
| Dividend yield | 1.73% | 0.06% |
| Expense ratio | 0.72% | – |
| Assets under management | $29.2B | – |
| Sector / category | ETF · International | Information Technology |
EEM is a Diversified Emerging Mkts fund from iShares: $29.2B under management, 968 holdings, a 0.72% expense ratio, a 1.73% trailing dividend yield.
Year-by-year returns
| Year | EEM | MU |
|---|---|---|
| 2022 | -20.6% | -45.9% |
| 2023 | +8.9% | +71.9% |
| 2024 | +6.5% | -1.0% |
| 2025 | +34.0% | +240.2% |
| 2026 | +24.2% | +227.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EEM and MU good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EEM and MU?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.71 over the last year and 0.61 over 5 years.
Is MU a good diversifier for EEM?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
A reading of 0.66 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eem-vs-mu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eem-vs-mu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EEM correlations · MU correlations
