GOLD vs IEFA: Correlation
Measured on weekly returns over the past three years, Gold.com, Inc. (GOLD) and iShares Core MSCI EAFE ETF (IEFA) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOLD and IEFA?
Over the past 3 years, GOLD and IEFA moved with a correlation of 0.44, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.60 versus 0.44 over 3 years. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 310.7 %².
IEFA is one of the assets that tracks GOLD most closely: it ranks #3 out of the 12 assets we track against GOLD. Their recent paths diverged sharply: over the last 12 months GOLD outperformed by 82.2 percentage points (+104.0% for GOLD against +21.8% for IEFA). One caveat on sizing: GOLD is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GOLD vs IEFA: side by side
| GOLD (Gold.com, Inc.) | IEFA (iShares Core MSCI EAFE ETF) | |
|---|---|---|
| 1-year return | +104.0% | +21.8% |
| 5-year return | +128.6% | +54.5% |
| Volatility (ann.) | 46.9% | 15.0% |
| Beta vs S&P 500 | 0.85 | 0.77 |
| Max drawdown (3Y) | -57.1% | -13.8% |
| Market cap | $1.3B | – |
| P/E (trailing) | 14.8 | – |
| Dividend yield | 1.76% | 3.35% |
| Expense ratio | – | 0.07% |
| Assets under management | – | $190.1B |
| Sector / category | US Listed | ETF · International |
IEFA, iShares's Foreign Large Blend fund, carries $190.1B under management, 1620 holdings, a 0.07% expense ratio, a 3.35% trailing dividend yield.
Year-by-year returns
| Year | GOLD | IEFA |
|---|---|---|
| 2022 | +18.4% | -15.2% |
| 2023 | -8.4% | +18.0% |
| 2024 | -7.4% | +3.3% |
| 2025 | +28.4% | +32.1% |
| 2026 | +36.2% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOLD and IEFA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GOLD and IEFA?
The GOLD/IEFA correlation stands at 0.44 on a 3-year window (1 year: 0.60, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is IEFA a good diversifier for GOLD?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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/gold-vs-iefa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gold-vs-iefa/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GOLD correlations · IEFA correlations
