IEF vs SU: Correlation
How closely do iShares 7-10 Year Treasury Bond ETF (IEF) and Suncor Energy Inc. (SU) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEF and SU?
On 3 years of weekly data the IEF/SU correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.51 versus -0.27 over 3 years. The 5-year figure is -0.17, and annualized covariance runs at -50.9 %².
By 3-year correlation, SU places #42 of the 48 assets tracked against IEF. The last year tells two different stories: SU led by 63.4 percentage points, +0.9% for IEF against +64.3% for SU. One caveat on sizing: SU is 4.5 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.
IEF vs SU: side by side
| IEF (iShares 7-10 Year Treasury Bond ETF) | SU (Suncor Energy Inc.) | |
|---|---|---|
| 1-year return | +0.9% | +64.3% |
| 5-year return | -7.9% | +325.4% |
| Volatility (ann.) | 6.5% | 29.1% |
| Beta vs S&P 500 | 0.04 | 0.13 |
| Max drawdown (3Y) | -6.9% | -22.7% |
| Market cap | – | $78.4B |
| P/E (trailing) | – | 12.1 |
| Dividend yield | 3.96% | 3.61% |
| Expense ratio | 0.15% | – |
| Assets under management | $47.2B | – |
| Sector / category | ETF · Bonds | US Listed |
On the fund side, IEF sits in the Long Government category at iShares, with $47.2B under management, a 0.15% expense ratio, a 3.96% trailing dividend yield.
Year-by-year returns
| Year | IEF | SU |
|---|---|---|
| 2022 | -15.2% | +32.3% |
| 2023 | +3.6% | +6.0% |
| 2024 | -0.6% | +16.2% |
| 2025 | +8.0% | +27.1% |
| 2026 | -0.8% | +51.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEF and SU good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IEF and SU?
The IEF/SU correlation stands at -0.27 on a 3-year window (1 year: -0.51, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is SU a good diversifier for IEF?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 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/ief-vs-su.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ief-vs-su/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IEF correlations · SU correlations
