EFA vs WHLR: Correlation
How closely do iShares MSCI EAFE ETF (EFA) and Wheeler Real Estate Investment Trust, Inc. (WHLR) 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 EFA and WHLR?
On 3 years of weekly data the EFA/WHLR correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.05 versus -0.18 over 3 years. The 5-year figure is -0.11, and annualized covariance runs at -1429.5 %².
Among the 109 assets we track against EFA, WHLR ranks #102 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EFA ahead by 121.9 points (+21.9% versus -100.0%). Risk is not evenly split, since WHLR carries 36.6 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 WHLR: side by side
| EFA (iShares MSCI EAFE ETF) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | +21.9% | -100.0% |
| 5-year return | +56.7% | -100.0% |
| Volatility (ann.) | 14.9% | 545.0% |
| Beta vs S&P 500 | 0.77 | -5.84 |
| Max drawdown (3Y) | -14.1% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 3.19% | 0.00% |
| Expense ratio | 0.32% | – |
| Assets under management | $78.0B | – |
| Sector / category | ETF · International | US Listed |
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 | WHLR |
|---|---|---|
| 2022 | -14.4% | -28.0% |
| 2023 | +18.4% | -98.4% |
| 2024 | +3.5% | -98.4% |
| 2025 | +31.5% | -100.0% |
| 2026 | +14.3% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFA and WHLR 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 EFA and WHLR?
As of 2026-08-27, the correlation of weekly returns between EFA and WHLR is -0.18 over 3 years, 0.05 over 1 year and -0.11 over 5 years.
Is WHLR a good diversifier for EFA?
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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: EFA correlations · WHLR correlations
