IEFA vs KEP: Correlation
iShares Core MSCI EAFE ETF (IEFA) and Korea Electric Power Corporation (KEP) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEFA and KEP?
On 3 years of weekly data the IEFA/KEP correlation comes out at 0.46, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.46 over 3. The 5-year figure is 0.43, and annualized covariance runs at 295.7 %².
By 3-year correlation, KEP places #94 of the 111 assets tracked against IEFA. The last year tells two different stories: IEFA led by 32.7 percentage points, +21.8% for IEFA against -10.9% for KEP. Risk is not evenly split, since KEP carries 2.9 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.
IEFA vs KEP: side by side
| IEFA (iShares Core MSCI EAFE ETF) | KEP (Korea Electric Power Corporation) | |
|---|---|---|
| 1-year return | +21.8% | -10.9% |
| 5-year return | +54.5% | +18.4% |
| Volatility (ann.) | 15.0% | 43.0% |
| Beta vs S&P 500 | 0.77 | 0.89 |
| Max drawdown (3Y) | -13.8% | -51.9% |
| Market cap | – | $15.3B |
| P/E (trailing) | – | 2.8 |
| Dividend yield | 3.35% | 12598.04% |
| Expense ratio | 0.07% | – |
| Assets under management | $190.1B | – |
| Sector / category | ETF · International | US Listed |
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 | IEFA | KEP |
|---|---|---|
| 2022 | -15.2% | -5.5% |
| 2023 | +18.0% | -16.1% |
| 2024 | +3.3% | -4.0% |
| 2025 | +32.1% | +139.8% |
| 2026 | +14.5% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEFA and KEP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IEFA and KEP?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.50 over the last year and 0.43 over 5 years.
Is KEP a good diversifier for IEFA?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iefa-vs-kep.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iefa-vs-kep/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IEFA correlations · KEP correlations
