AMZN vs ETY: Correlation
How closely do Amazon (AMZN) and Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMZN and ETY?
Over the past 3 years, AMZN and ETY moved with a correlation of 0.65, which is strong. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 311.2 %².
Among the 38 assets we track against AMZN, ETY ranks #14 by 3-year correlation. Over the last 12 months AMZN came out ahead by 12.2 percentage points (+11.8% against -0.4%). Risk is not evenly split, since AMZN carries 2.0 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.
AMZN vs ETY: side by side
| AMZN (Amazon) | ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | |
|---|---|---|
| 1-year return | +11.8% | -0.4% |
| 5-year return | +49.8% | +51.2% |
| Volatility (ann.) | 31.0% | 15.4% |
| Beta vs S&P 500 | 1.48 | 0.97 |
| Max drawdown (3Y) | -30.9% | -21.3% |
| Market cap | $2,764.1B | – |
| P/E (trailing) | 20.9 | 5.2 |
| Dividend yield | 0.00% | 8.24% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | AMZN | ETY |
|---|---|---|
| 2022 | -49.6% | -21.2% |
| 2023 | +80.9% | +21.9% |
| 2024 | +44.4% | +33.1% |
| 2025 | +5.2% | +11.0% |
| 2026 | +11.0% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMZN and ETY good diversifiers for each other?
To a limited degree. At 0.65 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 AMZN and ETY?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.57 over the last year and 0.63 over 5 years.
Is ETY a good diversifier for AMZN?
To a limited degree. At 0.65 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 0.65 mean?
A reading of 0.65 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amzn-vs-ety.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amzn-vs-ety/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMZN correlations · ETY correlations
