EH vs FXI: Correlation
EHang Holdings Limited (EH) and iShares China Large-Cap ETF (FXI) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EH and FXI?
Over the past 3 years, EH and FXI moved with a correlation of 0.51, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.27 versus 0.51 over 3 years. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 933.4 %².
Few assets follow EH as closely as FXI, which ranks #3 of 11 tracked partners. The last year tells two different stories: FXI led by 64.6 percentage points, -70.7% for EH against -6.1% for FXI. Risk is not evenly split, since EH carries 2.9 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.
EH vs FXI: side by side
| EH (EHang Holdings Limited) | FXI (iShares China Large-Cap ETF) | |
|---|---|---|
| 1-year return | -70.7% | -6.1% |
| 5-year return | -81.9% | -1.4% |
| Volatility (ann.) | 72.3% | 25.3% |
| Beta vs S&P 500 | 1.92 | 0.68 |
| Max drawdown (3Y) | -82.4% | -23.2% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.87% |
| Expense ratio | – | 0.73% |
| Assets under management | – | $4.3B |
| Sector / category | US Listed | ETF · International |
FXI, iShares's Greater China Region fund, carries $4.3B under management, 50 holdings, a 0.73% expense ratio, a 1.87% trailing dividend yield.
Year-by-year returns
| Year | EH | FXI |
|---|---|---|
| 2022 | -42.5% | -20.7% |
| 2023 | +95.8% | -12.4% |
| 2024 | -6.3% | +29.0% |
| 2025 | -16.3% | +28.9% |
| 2026 | -64.6% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EH and FXI good diversifiers for each other?
To a limited degree. At 0.51 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 EH and FXI?
The EH/FXI correlation stands at 0.51 on a 3-year window (1 year: 0.27, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is FXI a good diversifier for EH?
To a limited degree. At 0.51 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 0.51 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eh-vs-fxi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eh-vs-fxi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EH correlations · FXI correlations
