FXI vs RIO: Correlation
Measured on weekly returns over the past three years, iShares China Large-Cap ETF (FXI) and Rio Tinto Plc (RIO) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FXI and RIO?
On 3 years of weekly data the FXI/RIO correlation comes out at 0.53, moderate. The link has loosened recently: the 1-year correlation (0.40) runs below the 3-year figure (0.53). The 5-year figure is 0.56, and annualized covariance runs at 334.2 %².
By 3-year correlation, RIO places #13 of the 74 assets tracked against FXI. Correlation aside, the last 12 months split them widely, with RIO ahead by 83.3 points (-6.1% versus +77.2%).
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.
FXI vs RIO: side by side
| FXI (iShares China Large-Cap ETF) | RIO (Rio Tinto Plc) | |
|---|---|---|
| 1-year return | -6.1% | +77.2% |
| 5-year return | -1.4% | +94.8% |
| Volatility (ann.) | 25.3% | 25.1% |
| Beta vs S&P 500 | 0.68 | 0.70 |
| Max drawdown (3Y) | -23.2% | -24.2% |
| Market cap | – | $170.4B |
| P/E (trailing) | – | 14.2 |
| Dividend yield | 1.87% | 4.44% |
| Expense ratio | 0.73% | – |
| Assets under management | $4.3B | – |
| Sector / category | ETF · International | US Listed |
FXI is a Greater China Region fund from iShares: $4.3B under management, 50 holdings, a 0.73% expense ratio, a 1.87% trailing dividend yield.
Year-by-year returns
| Year | FXI | RIO |
|---|---|---|
| 2022 | -20.7% | +18.5% |
| 2023 | -12.4% | +11.1% |
| 2024 | +29.0% | -15.4% |
| 2025 | +28.9% | +44.5% |
| 2026 | -7.3% | +37.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FXI and RIO good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FXI and RIO?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.40 over the last year and 0.56 over 5 years.
Is RIO a good diversifier for FXI?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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/fxi-vs-rio.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fxi-vs-rio/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FXI correlations · RIO correlations
