FER vs VEA: Correlation
How closely do Ferrovial N.V. (FER) and Vanguard FTSE Developed Markets ETF (VEA) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FER and VEA?
On 3 years of weekly data the FER/VEA correlation comes out at 0.51, moderate. The past 12 months show a tighter link (0.76) than the 3-year average (0.51). The 5-year figure is 0.36, and annualized covariance runs at 221.9 %².
Few assets follow FER as closely as VEA, which ranks #3 of 11 tracked partners. The last year tells two different stories: VEA led by 18.6 percentage points, +9.9% for FER against +28.5% for VEA. Risk is not evenly split, since FER carries 1.9 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.
FER vs VEA: side by side
| FER (Ferrovial N.V.) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +9.9% | +28.5% |
| 5-year return | +129.1% | +63.5% |
| Volatility (ann.) | 28.5% | 15.1% |
| Beta vs S&P 500 | 0.65 | 0.79 |
| Max drawdown (3Y) | -20.2% | -13.5% |
| Market cap | $42.4B | – |
| P/E (trailing) | 61.9 | – |
| Dividend yield | 0.93% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | US Listed | ETF · International |
VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Year-by-year returns
| Year | FER | VEA |
|---|---|---|
| 2022 | -5.6% | -15.3% |
| 2023 | +44.1% | +17.9% |
| 2024 | +21.3% | +3.1% |
| 2025 | +56.4% | +35.2% |
| 2026 | -8.1% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
FER represents 0.09% of VEA's portfolio, so part of any move in VEA is FER itself, and the correlation between them is partly mechanical.
Are FER and VEA good diversifiers for each other?
Only partially. A correlation of 0.51 means FER and VEA 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 FER and VEA?
The FER/VEA correlation stands at 0.51 on a 3-year window (1 year: 0.76, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is VEA a good diversifier for FER?
Only partially. A correlation of 0.51 means FER and VEA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/fer-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fer-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FER correlations · VEA correlations
