EMF vs MU: Correlation
Measured on weekly returns over the past three years, Templeton Emerging Markets Fund (EMF) and Micron Technology (MU) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMF and MU?
On 3 years of weekly data the EMF/MU correlation comes out at 0.63, strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. The 5-year figure is 0.58, and annualized covariance runs at 829.9 %².
By 3-year correlation, MU places #10 of the 21 assets tracked against EMF. The last year tells two different stories: MU led by 634.1 percentage points, +61.6% for EMF against +695.7% for MU. Note the risk asymmetry: MU runs 3.0 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 MU: side by side
| EMF (Templeton Emerging Markets Fund) | MU (Micron Technology) | |
|---|---|---|
| 1-year return | +61.6% | +695.7% |
| 5-year return | +91.4% | +1211.2% |
| Volatility (ann.) | 21.0% | 63.3% |
| Beta vs S&P 500 | 0.93 | 2.47 |
| Max drawdown (3Y) | -19.5% | -57.6% |
| Market cap | $0.3B | – |
| P/E (trailing) | 2.4 | 21.2 |
| Dividend yield | 3.91% | 0.06% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | EMF | MU |
|---|---|---|
| 2022 | -21.5% | -45.9% |
| 2023 | +8.8% | +71.9% |
| 2024 | +6.6% | -1.0% |
| 2025 | +58.2% | +240.2% |
| 2026 | +36.1% | +227.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMF and MU good diversifiers for each other?
Only partially. A correlation of 0.63 means EMF and MU 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 EMF and MU?
As of 2026-08-27, the correlation of weekly returns between EMF and MU is 0.63 over 3 years, 0.68 over 1 year and 0.58 over 5 years.
Is MU a good diversifier for EMF?
Only partially. A correlation of 0.63 means EMF and MU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/emf-vs-mu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/emf-vs-mu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EMF correlations · MU correlations
