IFF vs VEA: Correlation
Measured on weekly returns over the past three years, International Flavors & Fragrances (IFF) and Vanguard FTSE Developed Markets ETF (VEA) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IFF and VEA?
Over the past 3 years, IFF and VEA moved with a correlation of 0.51, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.62 versus 0.51 over 3 years. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 228.8 %².
By 3-year correlation, VEA places #11 of the 32 assets tracked against IFF. Neither side won the trailing year by much: +33.2% against +28.5%. The rolling one-year correlation stayed in a tight band between 0.41 and 0.63 over the past three years, which points to a structural rather than episodic relationship. One caveat on sizing: IFF is 2.0 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.
IFF vs VEA: side by side
| IFF (International Flavors & Fragrances) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +33.2% | +28.5% |
| 5-year return | -34.3% | +63.5% |
| Volatility (ann.) | 29.5% | 15.1% |
| Beta vs S&P 500 | 0.69 | 0.79 |
| Max drawdown (3Y) | -42.6% | -13.5% |
| Market cap | $22.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.84% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | Materials | ETF · International |
VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Year-by-year returns
| Year | IFF | VEA |
|---|---|---|
| 2022 | -28.3% | -15.3% |
| 2023 | -19.5% | +17.9% |
| 2024 | +6.3% | +3.1% |
| 2025 | -18.4% | +35.2% |
| 2026 | +30.3% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IFF and VEA good diversifiers for each other?
Only partially. A correlation of 0.51 means IFF and VEA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IFF and VEA?
The IFF/VEA correlation stands at 0.51 on a 3-year window (1 year: 0.62, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is VEA a good diversifier for IFF?
Only partially. A correlation of 0.51 means IFF and VEA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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/iff-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iff-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IFF correlations · VEA correlations
