IEMG vs KEP: Correlation
iShares Core MSCI Emerging Markets ETF (IEMG) and Korea Electric Power Corporation (KEP) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEMG and KEP?
On 3 years of weekly data the IEMG/KEP correlation comes out at 0.43, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.58 versus 0.43 over 3 years. The 5-year figure is 0.41, and annualized covariance runs at 326.0 %².
Among the 68 assets we track against IEMG, KEP ranks #50 by 3-year correlation. The last year tells two different stories: IEMG led by 46.9 percentage points, +36.0% for IEMG against -10.9% for KEP. Note the risk asymmetry: KEP runs 2.5 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.
IEMG vs KEP: side by side
| IEMG (iShares Core MSCI Emerging Markets ETF) | KEP (Korea Electric Power Corporation) | |
|---|---|---|
| 1-year return | +36.0% | -10.9% |
| 5-year return | +50.7% | +18.4% |
| Volatility (ann.) | 17.4% | 43.0% |
| Beta vs S&P 500 | 0.84 | 0.89 |
| Max drawdown (3Y) | -17.2% | -51.9% |
| Market cap | – | $15.3B |
| P/E (trailing) | – | 2.8 |
| Dividend yield | 2.31% | 12598.04% |
| Expense ratio | 0.09% | – |
| Assets under management | $152.2B | – |
| Sector / category | ETF · International | US Listed |
IEMG is a Diversified Emerging Mkts fund from iShares: $152.2B under management, 1824 holdings, a 0.09% expense ratio, a 2.31% trailing dividend yield.
Year-by-year returns
| Year | IEMG | KEP |
|---|---|---|
| 2022 | -20.0% | -5.5% |
| 2023 | +11.5% | -16.1% |
| 2024 | +6.5% | -4.0% |
| 2025 | +32.6% | +139.8% |
| 2026 | +23.6% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEMG and KEP good diversifiers for each other?
Reasonably. At 0.43, IEMG and KEP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IEMG and KEP?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.58 over the last year and 0.41 over 5 years.
Is KEP a good diversifier for IEMG?
Reasonably. At 0.43, IEMG and KEP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 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/iemg-vs-kep.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iemg-vs-kep/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IEMG correlations · KEP correlations
