AAPL vs ETY: Correlation
Apple Inc. (AAPL) and Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAPL and ETY?
Across a 3-year window, the weekly returns of AAPL and ETY correlate at 0.52, moderate. The link has loosened recently: the 1-year correlation (0.34) runs below the 3-year figure (0.52). Stretching to 5 years gives 0.61, with an annualized covariance of 219.5 %².
Within AAPL's tracked universe of 32 assets, ETY comes in at #12 by 3-year correlation. The last year tells two different stories: AAPL led by 37.4 percentage points, +37.0% for AAPL against -0.4% for ETY. Risk is not evenly split, since AAPL carries 1.8 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.
AAPL vs ETY: side by side
| AAPL (Apple Inc.) | ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | |
|---|---|---|
| 1-year return | +37.0% | -0.4% |
| 5-year return | +110.6% | +51.2% |
| Volatility (ann.) | 27.2% | 15.4% |
| Beta vs S&P 500 | 1.06 | 0.97 |
| Max drawdown (3Y) | -33.4% | -21.3% |
| Market cap | $4,591.0B | – |
| P/E (trailing) | 36.1 | 5.2 |
| Dividend yield | 0.33% | 8.24% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | AAPL | ETY |
|---|---|---|
| 2022 | -26.4% | -21.2% |
| 2023 | +49.0% | +21.9% |
| 2024 | +30.7% | +33.1% |
| 2025 | +9.1% | +11.0% |
| 2026 | +16.0% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAPL and ETY good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AAPL and ETY?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.34 over the last year and 0.61 over 5 years.
Is ETY a good diversifier for AAPL?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 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/aapl-vs-ety.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aapl-vs-ety/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AAPL correlations · ETY correlations
