IEMG vs PED: Correlation
How closely do iShares Core MSCI Emerging Markets ETF (IEMG) and Pedevco Corp. (PED) 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 IEMG and PED?
Over the past 3 years, IEMG and PED 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 -0.43 versus -0.18 over 3 years. Over 5 years the correlation is -0.01, and the annualized covariance of weekly returns is -173.1 %².
By 3-year correlation, PED places #60 of the 68 assets tracked against IEMG. Correlation aside, the last 12 months split them widely, with IEMG ahead by 22.9 points (+36.0% versus +13.1%). One caveat on sizing: PED is 3.1 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.
IEMG vs PED: side by side
| IEMG (iShares Core MSCI Emerging Markets ETF) | PED (Pedevco Corp.) | |
|---|---|---|
| 1-year return | +36.0% | +13.1% |
| 5-year return | +50.7% | -39.7% |
| Volatility (ann.) | 17.4% | 54.0% |
| Beta vs S&P 500 | 0.84 | -0.28 |
| Max drawdown (3Y) | -17.2% | -58.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 2.31% | 0.00% |
| Expense ratio | 0.09% | – |
| Assets under management | $152.2B | – |
| Sector / category | ETF · International | US Listed |
IEMG, iShares's Diversified Emerging Mkts fund, carries $152.2B under management, 1824 holdings, a 0.09% expense ratio, a 2.31% trailing dividend yield.
Year-by-year returns
| Year | IEMG | PED |
|---|---|---|
| 2022 | -20.0% | +3.8% |
| 2023 | +11.5% | -30.0% |
| 2024 | +6.5% | +1.0% |
| 2025 | +32.6% | -28.0% |
| 2026 | +23.6% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEMG and PED 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 IEMG and PED?
The IEMG/PED correlation stands at -0.18 on a 3-year window (1 year: -0.43, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is PED a good diversifier for IEMG?
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?
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-ped.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iemg-vs-ped/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IEMG correlations · PED correlations
