BOE vs EXG: Correlation
Measured on weekly returns over the past three years, Blackrock Enhanced Global Dividend Trust (BOE) and Eaton Vance Tax-Managed Global Diversified Equity Income (EXG) carry a correlation of 0.89, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and EXG?
On 3 years of weekly data the BOE/EXG correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.90 over 1 year against 0.89 over 3. The 5-year figure is 0.87, and annualized covariance runs at 184.8 %².
EXG is one of the assets that tracks BOE most closely: it ranks #1 out of the 27 assets we track against BOE. Their 12-month results are close: +17.7% for BOE against +22.0% for EXG.
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.
BOE vs EXG: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | EXG (Eaton Vance Tax-Managed Global Diversified Equity Income) | |
|---|---|---|
| 1-year return | +17.7% | +22.0% |
| 5-year return | +46.4% | +45.8% |
| Volatility (ann.) | 13.8% | 15.0% |
| Beta vs S&P 500 | 0.79 | 0.91 |
| Max drawdown (3Y) | -14.5% | -15.1% |
| Market cap | – | – |
| P/E (trailing) | 6.8 | 4.5 |
| Dividend yield | 7.95% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOE | EXG |
|---|---|---|
| 2022 | -15.5% | -22.2% |
| 2023 | +12.0% | +11.4% |
| 2024 | +16.8% | +16.1% |
| 2025 | +18.8% | +27.8% |
| 2026 | +12.2% | +10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and EXG good diversifiers for each other?
No. With a correlation of 0.89, BOE and EXG move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BOE and EXG?
Using weekly returns as of 2026-08-27: 0.89 over 3 years, with 0.90 over the last year and 0.87 over 5 years.
Is EXG a good diversifier for BOE?
No. With a correlation of 0.89, BOE and EXG move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.89 mean?
A reading of 0.89 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/boe-vs-exg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/boe-vs-exg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BOE correlations · EXG correlations
