The paper interrelates changes in the effective elastic and diffusion properties of a two-phase composite using microstructural parameters. It is suggested that there are some inhomogeneities identical in shape in the material. The development of the cross-property connections in the explicit tensor form has been presented. The segregation effect, being a constant jump in concentration of particles of the solute flux at the matrix/inhomogeneity interface, was taken into account. It is a good practice to apply the derived cross-property relations to finding some effective properties of material using others when the material’s microstructure is unknown. The obtained expressions were put to the test for isotropic material with pores; the approximate correlations were compared with exact ones found for the specific microstructure.