EMF vs KF: Correlation
Templeton Emerging Markets Fund (EMF) and Korea Fund, Inc. (The) New (KF) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMF and KF?
Over the past 3 years, EMF and KF moved with a correlation of 0.78, which is strong. Little has changed lately, as the 1-year reading of 0.85 lands near the 3-year figure. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 554.2 %².
Among the 21 assets we track against EMF, KF ranks #5 by 3-year correlation. The last year tells two different stories: KF led by 82.8 percentage points, +61.6% for EMF against +144.4% for KF. Note the risk asymmetry: KF runs 1.6 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.
EMF vs KF: side by side
| EMF (Templeton Emerging Markets Fund) | KF (Korea Fund, Inc. (The) New) | |
|---|---|---|
| 1-year return | +61.6% | +144.4% |
| 5-year return | +91.4% | +138.0% |
| Volatility (ann.) | 21.0% | 33.8% |
| Beta vs S&P 500 | 0.93 | 1.18 |
| Max drawdown (3Y) | -19.5% | -35.2% |
| Market cap | $0.3B | $0.3B |
| P/E (trailing) | 2.4 | 2.9 |
| Dividend yield | 3.91% | 2.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMF | KF |
|---|---|---|
| 2022 | -21.5% | -30.0% |
| 2023 | +8.8% | +12.3% |
| 2024 | +6.6% | -19.3% |
| 2025 | +58.2% | +104.8% |
| 2026 | +36.1% | +78.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMF and KF good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EMF and KF?
The EMF/KF correlation stands at 0.78 on a 3-year window (1 year: 0.85, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is KF a good diversifier for EMF?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 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/emf-vs-kf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/emf-vs-kf/)
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Related comparisons
Hubs: EMF correlations · KF correlations
