GF vs VEA: Correlation
How closely do New Germany Fund, Inc. (The) (GF) and Vanguard FTSE Developed Markets ETF (VEA) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GF and VEA?
Across a 3-year window, the weekly returns of GF and VEA correlate at 0.76, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.76 over 3. Stretching to 5 years gives 0.82, with an annualized covariance of 238.1 %².
Few assets follow GF as closely as VEA, which ranks #2 of 14 tracked partners. The last year tells two different stories: VEA led by 25.7 percentage points, +2.8% for GF against +28.5% for VEA.
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.
GF vs VEA: side by side
| GF (New Germany Fund, Inc. (The)) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +2.8% | +28.5% |
| 5-year return | -16.5% | +63.5% |
| Volatility (ann.) | 20.9% | 15.1% |
| Beta vs S&P 500 | 0.76 | 0.79 |
| Max drawdown (3Y) | -18.1% | -13.5% |
| Market cap | – | – |
| P/E (trailing) | 3.4 | – |
| Dividend yield | 1.29% | 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 | GF | VEA |
|---|---|---|
| 2022 | -42.2% | -15.3% |
| 2023 | +11.7% | +17.9% |
| 2024 | -10.0% | +3.1% |
| 2025 | +48.3% | +35.2% |
| 2026 | +3.9% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GF and VEA good diversifiers for each other?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GF and VEA?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.72 over the last year and 0.82 over 5 years.
Is VEA a good diversifier for GF?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.76 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/gf-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gf-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GF correlations · VEA correlations
