ACV vs ETG: Correlation
Measured on weekly returns over the past three years, Virtus Diversified Income & Convertible Fund (ACV) and Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACV and ETG?
Across a 3-year window, the weekly returns of ACV and ETG correlate at 0.79, strong. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 259.2 %².
In ACV's tracked universe of 17 assets, ETG sits right near the top at #3. Twelve-month performance is nearly a tie, at +27.4% for ACV and +25.2% for ETG.
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.
ACV vs ETG: side by side
| ACV (Virtus Diversified Income & Convertible Fund) | ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | |
|---|---|---|
| 1-year return | +27.4% | +25.2% |
| 5-year return | +45.0% | +60.6% |
| Volatility (ann.) | 19.4% | 16.9% |
| Beta vs S&P 500 | 1.02 | 1.04 |
| Max drawdown (3Y) | -23.5% | -17.0% |
| Market cap | $0.3B | $1.9B |
| P/E (trailing) | 5.1 | 3.8 |
| Dividend yield | 0.00% | 6.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACV | ETG |
|---|---|---|
| 2022 | -36.0% | -27.6% |
| 2023 | +26.0% | +22.0% |
| 2024 | +15.4% | +15.4% |
| 2025 | +33.7% | +36.9% |
| 2026 | +7.0% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACV and ETG good diversifiers for each other?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ACV and ETG?
The ACV/ETG correlation stands at 0.79 on a 3-year window (1 year: 0.73, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is ETG a good diversifier for ACV?
Somewhat, no more. With 0.79 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.79 mean?
On the −1 to +1 scale, 0.79 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acv-vs-etg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acv-vs-etg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACV correlations · ETG correlations
