CAE vs EXG: Correlation
Measured on weekly returns over the past three years, CAE Inc (CAE) and Eaton Vance Tax-Managed Global Diversified Equity Income (EXG) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAE and EXG?
Across a 3-year window, the weekly returns of CAE and EXG correlate at 0.45, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.45 over 3. Stretching to 5 years gives 0.46, with an annualized covariance of 200.1 %².
Among the 10 assets we track against CAE, EXG ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EXG outperformed by 29.8 percentage points (-7.8% for CAE against +22.0% for EXG). Note the risk asymmetry: CAE runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CAE vs EXG: side by side
| CAE (CAE Inc) | EXG (Eaton Vance Tax-Managed Global Diversified Equity Income) | |
|---|---|---|
| 1-year return | -7.8% | +22.0% |
| 5-year return | -12.4% | +45.8% |
| Volatility (ann.) | 29.6% | 15.0% |
| Beta vs S&P 500 | 0.91 | 0.91 |
| Max drawdown (3Y) | -34.6% | -15.1% |
| Market cap | $8.0B | – |
| P/E (trailing) | 38.9 | 4.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAE | EXG |
|---|---|---|
| 2022 | -23.4% | -22.2% |
| 2023 | +11.6% | +11.4% |
| 2024 | +17.6% | +16.1% |
| 2025 | +19.9% | +27.8% |
| 2026 | -18.1% | +10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAE and EXG good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CAE and EXG?
As of 2026-08-27, the correlation of weekly returns between CAE and EXG is 0.45 over 3 years, 0.43 over 1 year and 0.46 over 5 years.
Is EXG a good diversifier for CAE?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 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/cae-vs-exg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cae-vs-exg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAE correlations · EXG correlations
