EL vs EMF: Correlation
Measured on weekly returns over the past three years, Estée Lauder Companies (The) (EL) and Templeton Emerging Markets Fund (EMF) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EL and EMF?
Across a 3-year window, the weekly returns of EL and EMF correlate at 0.45, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 439.6 %².
Among the 35 assets we track against EL, EMF ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EMF outperformed by 45.2 percentage points (+16.4% for EL against +61.6% for EMF). Note the risk asymmetry: EL runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EL vs EMF: side by side
| EL (Estée Lauder Companies (The)) | EMF (Templeton Emerging Markets Fund) | |
|---|---|---|
| 1-year return | +16.4% | +61.6% |
| 5-year return | -66.7% | +91.4% |
| Volatility (ann.) | 47.0% | 21.0% |
| Beta vs S&P 500 | 1.28 | 0.93 |
| Max drawdown (3Y) | -68.4% | -19.5% |
| Market cap | $38.4B | $0.3B |
| P/E (trailing) | 208.3 | 2.4 |
| Dividend yield | 1.33% | 3.91% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | EL | EMF |
|---|---|---|
| 2022 | -32.3% | -21.5% |
| 2023 | -40.1% | +8.8% |
| 2024 | -47.6% | +6.6% |
| 2025 | +42.1% | +58.2% |
| 2026 | +2.1% | +36.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EL and EMF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EL and EMF?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.48 over the last year and 0.47 over 5 years.
Is EMF a good diversifier for EL?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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
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Related comparisons
Hubs: EL correlations · EMF correlations
