EFA vs GEHC: Correlation
Measured on weekly returns over the past three years, iShares MSCI EAFE ETF (EFA) and GE HealthCare (GEHC) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFA and GEHC?
Across a 3-year window, the weekly returns of EFA and GEHC correlate at 0.60, strong. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Stretching to 5 years gives 0.58, with an annualized covariance of 291.5 %².
Within EFA's tracked universe of 109 assets, GEHC comes in at #63 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EFA ahead by 24.1 points (+21.9% versus -2.2%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.27 and 0.81 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since GEHC carries 2.2 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.
EFA vs GEHC: side by side
| EFA (iShares MSCI EAFE ETF) | GEHC (GE HealthCare) | |
|---|---|---|
| 1-year return | +21.9% | -2.2% |
| 5-year return | +56.7% | n/a |
| Volatility (ann.) | 14.9% | 32.4% |
| Beta vs S&P 500 | 0.77 | 1.22 |
| Max drawdown (3Y) | -14.1% | -37.4% |
| Market cap | – | $32.7B |
| P/E (trailing) | – | 16.9 |
| Dividend yield | 3.19% | 0.19% |
| Expense ratio | 0.32% | – |
| Assets under management | $78.0B | – |
| Sector / category | ETF · International | Health Care |
EFA is a Foreign Large Blend fund from iShares: $78.0B under management, 666 holdings, a 0.32% expense ratio, a 3.19% trailing dividend yield.
Year-by-year returns
| Year | EFA | GEHC |
|---|---|---|
| 2022 | -14.4% | – |
| 2023 | +18.4% | +32.6% |
| 2024 | +3.5% | +1.3% |
| 2025 | +31.5% | +5.1% |
| 2026 | +14.3% | -11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFA and GEHC 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 EFA and GEHC?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.53 over the last year and 0.58 over 5 years.
Is GEHC a good diversifier for EFA?
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?
On the −1 to +1 scale, 0.60 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/efa-vs-gehc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/efa-vs-gehc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EFA correlations · GEHC correlations
