EFA vs GRMN: Correlation
iShares MSCI EAFE ETF (EFA) and Garmin (GRMN) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFA and GRMN?
Over the past 3 years, EFA and GRMN moved with a correlation of 0.49, which is moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 251.6 %².
By 3-year correlation, GRMN places #90 of the 109 assets tracked against EFA. Twelve-month performance is nearly a tie, at +21.9% for EFA and +25.1% for GRMN. Across three years, the rolling one-year figure varied moderately, from 0.22 to 0.67. Risk is not evenly split, since GRMN carries 2.3 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 GRMN: side by side
| EFA (iShares MSCI EAFE ETF) | GRMN (Garmin) | |
|---|---|---|
| 1-year return | +21.9% | +25.1% |
| 5-year return | +56.7% | +80.9% |
| Volatility (ann.) | 14.9% | 34.7% |
| Beta vs S&P 500 | 0.77 | 1.06 |
| Max drawdown (3Y) | -14.1% | -28.0% |
| Market cap | – | $55.9B |
| P/E (trailing) | – | 29.9 |
| Dividend yield | 3.19% | 1.45% |
| Expense ratio | 0.32% | – |
| Assets under management | $78.0B | – |
| Sector / category | ETF · International | Consumer Discretionary |
EFA, iShares's Foreign Large Blend fund, carries $78.0B under management, 666 holdings, a 0.32% expense ratio, a 3.19% trailing dividend yield.
Year-by-year returns
| Year | EFA | GRMN |
|---|---|---|
| 2022 | -14.4% | -30.2% |
| 2023 | +18.4% | +43.1% |
| 2024 | +3.5% | +63.3% |
| 2025 | +31.5% | -0.1% |
| 2026 | +14.3% | +44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFA and GRMN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EFA and GRMN?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.45 over the last year and 0.52 over 5 years.
Is GRMN a good diversifier for EFA?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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/efa-vs-grmn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/efa-vs-grmn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EFA correlations · GRMN correlations
