IEFA vs MXC: Correlation
How closely do iShares Core MSCI EAFE ETF (IEFA) and Mexco Energy Corporation (MXC) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEFA and MXC?
Over the past 3 years, IEFA and MXC moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.18 over 3 years. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -166.0 %².
By 3-year correlation, MXC places #104 of the 111 assets tracked against IEFA. Their 12-month results are close: +21.8% for IEFA against +21.6% for MXC. Note the risk asymmetry: MXC runs 4.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 MXC: side by side
| IEFA (iShares Core MSCI EAFE ETF) | MXC (Mexco Energy Corporation) | |
|---|---|---|
| 1-year return | +21.8% | +21.6% |
| 5-year return | +54.5% | +7.2% |
| Volatility (ann.) | 15.0% | 62.1% |
| Beta vs S&P 500 | 0.77 | -0.31 |
| Max drawdown (3Y) | -13.8% | -60.6% |
| Market cap | – | – |
| P/E (trailing) | – | 13.0 |
| Dividend yield | 3.35% | 1.02% |
| 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 | MXC |
|---|---|---|
| 2022 | -15.2% | +33.0% |
| 2023 | +18.0% | -26.2% |
| 2024 | +3.3% | +24.6% |
| 2025 | +32.1% | -10.8% |
| 2026 | +14.5% | -0.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEFA and MXC good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between IEFA and MXC?
The IEFA/MXC correlation stands at -0.18 on a 3-year window (1 year: -0.35, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is MXC a good diversifier for IEFA?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/iefa-vs-mxc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iefa-vs-mxc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IEFA correlations · MXC correlations
