AGD vs ETO: Correlation
Measured on weekly returns over the past three years, abrdn Global Dynamic Dividend Fund (AGD) and Eaton Vance Tax-Advantage Global Dividend Opp (ETO) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGD and ETO?
Across a 3-year window, the weekly returns of AGD and ETO correlate at 0.66, strong. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.70, with an annualized covariance of 235.8 %².
Few assets follow AGD as closely as ETO, which ranks #2 of 15 tracked partners. Their 12-month results are close: +19.7% for AGD against +24.4% for ETO.
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.
AGD vs ETO: side by side
| AGD (abrdn Global Dynamic Dividend Fund) | ETO (Eaton Vance Tax-Advantage Global Dividend Opp) | |
|---|---|---|
| 1-year return | +19.7% | +24.4% |
| 5-year return | +65.7% | +43.6% |
| Volatility (ann.) | 21.4% | 16.6% |
| Beta vs S&P 500 | 0.88 | 1.02 |
| Max drawdown (3Y) | -20.3% | -18.2% |
| Market cap | – | $0.5B |
| P/E (trailing) | 4.2 | 3.8 |
| Dividend yield | 5.26% | 6.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGD | ETO |
|---|---|---|
| 2022 | -15.3% | -30.0% |
| 2023 | +7.4% | +21.5% |
| 2024 | +16.4% | +15.5% |
| 2025 | +34.3% | +29.9% |
| 2026 | +16.5% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGD and ETO good diversifiers for each other?
To a limited degree. At 0.66 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 AGD and ETO?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.61 over the last year and 0.70 over 5 years.
Is ETO a good diversifier for AGD?
To a limited degree. At 0.66 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 0.66 mean?
On the −1 to +1 scale, 0.66 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/agd-vs-eto.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/agd-vs-eto/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AGD correlations · ETO correlations
