IEMG vs MOBX: Correlation
How closely do iShares Core MSCI Emerging Markets ETF (IEMG) and Mobix Labs, Inc. (MOBX) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEMG and MOBX?
Across a 3-year window, the weekly returns of IEMG and MOBX correlate at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.25). Stretching to 5 years gives -0.19, with an annualized covariance of -1439.6 %².
MOBX is close to the least connected end of IEMG's tracked universe, ranking #64 of 68. The last year tells two different stories: IEMG led by 124.0 percentage points, +36.0% for IEMG against -88.0% for MOBX. Risk is not evenly split, since MOBX carries 19.1 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.
IEMG vs MOBX: side by side
| IEMG (iShares Core MSCI Emerging Markets ETF) | MOBX (Mobix Labs, Inc.) | |
|---|---|---|
| 1-year return | +36.0% | -88.0% |
| 5-year return | +50.7% | -98.8% |
| Volatility (ann.) | 17.4% | 333.1% |
| Beta vs S&P 500 | 0.84 | -0.62 |
| Max drawdown (3Y) | -17.2% | -99.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.31% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $152.2B | – |
| Sector / category | ETF · International | US Listed |
On the fund side, IEMG sits in the Diversified Emerging Mkts category at iShares, with $152.2B under management, 1824 holdings, a 0.09% expense ratio, a 2.31% trailing dividend yield.
Year-by-year returns
| Year | IEMG | MOBX |
|---|---|---|
| 2022 | -20.0% | +3.8% |
| 2023 | +11.5% | -60.6% |
| 2024 | +6.5% | -57.7% |
| 2025 | +32.6% | -84.3% |
| 2026 | +23.6% | -57.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEMG and MOBX good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IEMG and MOBX?
The IEMG/MOBX correlation stands at -0.25 on a 3-year window (1 year: -0.41, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is MOBX a good diversifier for IEMG?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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/iemg-vs-mobx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iemg-vs-mobx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IEMG correlations · MOBX correlations
