EMF vs VLN: Correlation
How closely do Templeton Emerging Markets Fund (EMF) and Valens Semiconductor Ltd. (VLN) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMF and VLN?
Over the past 3 years, EMF and VLN moved with a correlation of 0.46, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.57 versus 0.46 over 3 years. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 755.1 %².
By 3-year correlation, VLN places #15 of the 21 assets tracked against EMF. Their recent paths diverged sharply: over the last 12 months EMF outperformed by 69.0 percentage points (+61.6% for EMF against -7.4% for VLN). Risk is not evenly split, since VLN carries 3.8 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.
EMF vs VLN: side by side
| EMF (Templeton Emerging Markets Fund) | VLN (Valens Semiconductor Ltd.) | |
|---|---|---|
| 1-year return | +61.6% | -7.4% |
| 5-year return | +91.4% | -74.7% |
| Volatility (ann.) | 21.0% | 79.0% |
| Beta vs S&P 500 | 0.93 | 2.08 |
| Max drawdown (3Y) | -19.5% | -67.9% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 2.4 | – |
| Dividend yield | 3.91% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMF | VLN |
|---|---|---|
| 2022 | -21.5% | -30.3% |
| 2023 | +8.8% | -54.4% |
| 2024 | +6.6% | +6.1% |
| 2025 | +58.2% | -45.4% |
| 2026 | +36.1% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMF and VLN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EMF and VLN?
The EMF/VLN correlation stands at 0.46 on a 3-year window (1 year: 0.57, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is VLN a good diversifier for EMF?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/emf-vs-vln.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/emf-vs-vln/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EMF correlations · VLN correlations
