BCAT vs ETG: Correlation
BlackRock Capital Allocation Term Trust (BCAT) and Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCAT and ETG?
Over the past 3 years, BCAT and ETG moved with a correlation of 0.68, which is strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 151.5 %².
Within BCAT's tracked universe of 11 assets, ETG comes in at #4 by 3-year correlation. Over the last 12 months BCAT came out ahead by 7.0 percentage points (+32.2% 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.
BCAT vs ETG: side by side
| BCAT (BlackRock Capital Allocation Term Trust) | ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | |
|---|---|---|
| 1-year return | +32.2% | +25.2% |
| 5-year return | +49.6% | +60.6% |
| Volatility (ann.) | 13.1% | 16.9% |
| Beta vs S&P 500 | 0.60 | 1.04 |
| Max drawdown (3Y) | -13.7% | -17.0% |
| Market cap | $1.7B | $1.9B |
| P/E (trailing) | 7.5 | 3.8 |
| Dividend yield | 0.00% | 6.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCAT | ETG |
|---|---|---|
| 2022 | -22.6% | -27.6% |
| 2023 | +19.3% | +22.0% |
| 2024 | +19.4% | +15.4% |
| 2025 | +16.8% | +36.9% |
| 2026 | +28.4% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCAT and ETG good diversifiers for each other?
Only partially. A correlation of 0.68 means BCAT and ETG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BCAT and ETG?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.68 over the last year and 0.74 over 5 years.
Is ETG a good diversifier for BCAT?
Only partially. A correlation of 0.68 means BCAT and ETG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
A reading of 0.68 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/bcat-vs-etg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bcat-vs-etg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BCAT correlations · ETG correlations
