AOD vs ETG: Correlation
How closely do abrdn Total Dynamic Dividend Fund (AOD) and Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) trade together? Their weekly returns over three years give a correlation of 0.84, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AOD and ETG?
Across a 3-year window, the weekly returns of AOD and ETG correlate at 0.84, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Stretching to 5 years gives 0.84, with an annualized covariance of 217.6 %².
Within AOD's tracked universe of 26 assets, ETG comes in at #4 by 3-year correlation. On 12-month performance AOD holds a 6.6-point edge, +31.8% against +25.2%.
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.
AOD vs ETG: side by side
| AOD (abrdn Total Dynamic Dividend Fund) | ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | |
|---|---|---|
| 1-year return | +31.8% | +25.2% |
| 5-year return | +70.1% | +60.6% |
| Volatility (ann.) | 15.4% | 16.9% |
| Beta vs S&P 500 | 0.81 | 1.04 |
| Max drawdown (3Y) | -16.7% | -17.0% |
| Market cap | $1.1B | $1.9B |
| P/E (trailing) | 4.1 | 3.8 |
| Dividend yield | 5.46% | 6.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AOD | ETG |
|---|---|---|
| 2022 | -17.1% | -27.6% |
| 2023 | +12.7% | +22.0% |
| 2024 | +16.1% | +15.4% |
| 2025 | +32.1% | +36.9% |
| 2026 | +18.1% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AOD and ETG good diversifiers for each other?
No: a correlation of 0.84 means AOD and ETG tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AOD and ETG?
The AOD/ETG correlation stands at 0.84 on a 3-year window (1 year: 0.77, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is ETG a good diversifier for AOD?
No: a correlation of 0.84 means AOD and ETG tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.84 mean?
A reading of 0.84 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/aod-vs-etg.json
Markdown for the live badge, attribution link included:
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AOD correlations · ETG correlations
