EEM vs PED: Correlation
How closely do iShares MSCI Emerging Markets ETF (EEM) and Pedevco Corp. (PED) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EEM and PED?
Across a 3-year window, the weekly returns of EEM and PED correlate at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.18 over 3 years. Stretching to 5 years gives -0.01, with an annualized covariance of -174.7 %².
Among the 67 assets we track against EEM, PED ranks #59 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EEM outperformed by 25.0 percentage points (+38.1% for EEM against +13.1% for PED). Risk is not evenly split, since PED carries 3.0 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.
EEM vs PED: side by side
| EEM (iShares MSCI Emerging Markets ETF) | PED (Pedevco Corp.) | |
|---|---|---|
| 1-year return | +38.1% | +13.1% |
| 5-year return | +47.1% | -39.7% |
| Volatility (ann.) | 18.0% | 54.0% |
| Beta vs S&P 500 | 0.85 | -0.28 |
| Max drawdown (3Y) | -17.3% | -58.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 1.73% | 0.00% |
| Expense ratio | 0.72% | – |
| Assets under management | $29.2B | – |
| Sector / category | ETF · International | US Listed |
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 | PED |
|---|---|---|
| 2022 | -20.6% | +3.8% |
| 2023 | +8.9% | -30.0% |
| 2024 | +6.5% | +1.0% |
| 2025 | +34.0% | -28.0% |
| 2026 | +24.2% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EEM and PED good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between EEM and PED?
As of 2026-08-27, the correlation of weekly returns between EEM and PED is -0.18 over 3 years, -0.42 over 1 year and -0.01 over 5 years.
Is PED a good diversifier for EEM?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
A reading of -0.18 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-ped.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eem-vs-ped/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EEM correlations · PED correlations
