EFA vs OTIS: Correlation
How closely do iShares MSCI EAFE ETF (EFA) and Otis Worldwide (OTIS) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFA and OTIS?
Over the past 3 years, EFA and OTIS moved with a correlation of 0.53, which is moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 152.3 %².
Among the 109 assets we track against EFA, OTIS ranks #82 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EFA outperformed by 38.7 percentage points (+21.9% for EFA against -16.8% for OTIS). On a rolling one-year basis the correlation drifted between 0.43 and 0.75, a moderate band.
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 OTIS: side by side
| EFA (iShares MSCI EAFE ETF) | OTIS (Otis Worldwide) | |
|---|---|---|
| 1-year return | +21.9% | -16.8% |
| 5-year return | +56.7% | -15.9% |
| Volatility (ann.) | 14.9% | 19.1% |
| Beta vs S&P 500 | 0.77 | 0.59 |
| Max drawdown (3Y) | -14.1% | -32.4% |
| Market cap | – | $27.2B |
| P/E (trailing) | – | 18.4 |
| Dividend yield | 3.19% | 2.35% |
| Expense ratio | 0.32% | – |
| Assets under management | $78.0B | – |
| Sector / category | ETF · International | Industrials |
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 | OTIS |
|---|---|---|
| 2022 | -14.4% | -8.8% |
| 2023 | +18.4% | +16.0% |
| 2024 | +3.5% | +5.2% |
| 2025 | +31.5% | -4.0% |
| 2026 | +14.3% | -16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFA and OTIS good diversifiers for each other?
To a limited degree. At 0.53 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 OTIS?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.58 over the last year and 0.61 over 5 years.
Is OTIS a good diversifier for EFA?
To a limited degree. At 0.53 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 0.53 mean?
On the −1 to +1 scale, 0.53 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.
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Related comparisons
Hubs: EFA correlations · OTIS correlations
