MDWD vs VEA: Correlation
How closely do MediWound Ltd. (MDWD) and Vanguard FTSE Developed Markets ETF (VEA) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDWD and VEA?
On 3 years of weekly data the MDWD/VEA correlation comes out at 0.34, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.34 over 3 years. The 5-year figure is 0.35, and annualized covariance runs at 267.0 %².
By 3-year correlation, VEA places #5 of the 10 assets tracked against MDWD. The last year tells two different stories: VEA led by 50.6 percentage points, -22.1% for MDWD against +28.5% for VEA. Risk is not evenly split, since MDWD carries 3.4 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.
MDWD vs VEA: side by side
| MDWD (MediWound Ltd.) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | -22.1% | +28.5% |
| 5-year return | -47.2% | +63.5% |
| Volatility (ann.) | 51.6% | 15.1% |
| Beta vs S&P 500 | 0.98 | 0.79 |
| Max drawdown (3Y) | -42.9% | -13.5% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | US Listed | 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 | MDWD | VEA |
|---|---|---|
| 2022 | -18.3% | -15.3% |
| 2023 | -24.6% | +17.9% |
| 2024 | +75.0% | +3.1% |
| 2025 | +3.7% | +35.2% |
| 2026 | -28.3% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDWD and VEA good diversifiers for each other?
Reasonably. At 0.34, MDWD and VEA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MDWD and VEA?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.16 over the last year and 0.35 over 5 years.
Is VEA a good diversifier for MDWD?
Reasonably. At 0.34, MDWD and VEA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 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/mdwd-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdwd-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDWD correlations · VEA correlations
