Efficacy will change as the virus mutates. Immunogenicity is the bigger factor, and all vaccines are showing extremely high effectiveness in that regard.
Efficacy above 50% stops the virus transmitting as freely. A strong immunogenic stops the virus killing.
It can work the opposite way though to mate, you can have a high efficacy vaccine, with a low immune response to provoke a reaction amongst certain groups. It’s why AZ isnt being used on over 55 and up in some countries. It’s also happened with other vaccines in the past, hepatitis springs to mind.
The same problems in looking at efficacy are the same in working out immunogenicity. It’s actually impossible to work out the Immunogenicity of the vaccines presently as we don’t know how long antibodies last for, nor the long term TCell benefit if any or what sliding scale our immune response may lapse in an unknown time frame or in different environments, even comparing the vaccines.
Essentially you or I don’t know yet, what our immune response will be! My immune system might be primed today after getting dose 2 during the week, but if I go on Safari to South Africa in August, my immune response may or may not have declined, we just don’t know yet. We’re really just working of initial early vaccine results - but they can and likely will change over time in different circumstances.
All data is useful, there isn’t one stat to rule them all in my opinion, efficacy tells us how efficient a vaccine is in a controlled sample of vaccine Vs placebo in a double/triple blinded trial, immunogenicity tells us what our immune response is - but we can’t be anything but general and limited on that presently, we don’t know if it’s consistent amount different sub-sets of population, it’s rate of depleting and how long it lasts just in a few short weeks therefore any data is limited at the moment - before we look at variants- essentially it’s a moving target, they are all essential facets of working out immunogenicity. We should know more in a few months. It’s why many are cautious on vaccines giving permission of “getting back to normal” As I said all data has its useful and no one stat rules them all.