EFA vs TEL: Correlation
Measured on weekly returns over the past three years, iShares MSCI EAFE ETF (EFA) and TE Connectivity (TEL) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFA and TEL?
Across a 3-year window, the weekly returns of EFA and TEL correlate at 0.67, strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.67 over 3. Stretching to 5 years gives 0.69, with an annualized covariance of 287.3 %².
Within EFA's tracked universe of 109 assets, TEL comes in at #44 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EFA ahead by 23.0 points (+21.9% versus -1.1%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.57 and 0.80. Risk is not evenly split, since TEL carries 1.9 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 TEL: side by side
| EFA (iShares MSCI EAFE ETF) | TEL (TE Connectivity) | |
|---|---|---|
| 1-year return | +21.9% | -1.1% |
| 5-year return | +56.7% | +43.7% |
| Volatility (ann.) | 14.9% | 28.8% |
| Beta vs S&P 500 | 0.77 | 1.32 |
| Max drawdown (3Y) | -14.1% | -22.6% |
| Market cap | – | $58.8B |
| P/E (trailing) | – | 20.1 |
| Dividend yield | 3.19% | 1.42% |
| Expense ratio | 0.32% | – |
| Assets under management | $78.0B | – |
| Sector / category | ETF · International | Information Technology |
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 | TEL |
|---|---|---|
| 2022 | -14.4% | -27.7% |
| 2023 | +18.4% | +24.6% |
| 2024 | +3.5% | +3.5% |
| 2025 | +31.5% | +61.1% |
| 2026 | +14.3% | -9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFA and TEL good diversifiers for each other?
Only partially. A correlation of 0.67 means EFA and TEL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EFA and TEL?
As of 2026-08-27, the correlation of weekly returns between EFA and TEL is 0.67 over 3 years, 0.63 over 1 year and 0.69 over 5 years.
Is TEL a good diversifier for EFA?
Only partially. A correlation of 0.67 means EFA and TEL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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-tel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/efa-vs-tel/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EFA correlations · TEL correlations
