CLIR vs ETY: Correlation
ClearSign Technologies Corporation (CLIR) and Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLIR and ETY?
Across a 3-year window, the weekly returns of CLIR and ETY correlate at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. Stretching to 5 years gives 0.37, with an annualized covariance of 545.1 %².
Among the 10 assets we track against CLIR, ETY ranks #4 by 3-year correlation. The last year tells two different stories: ETY led by 22.8 percentage points, -23.2% for CLIR against -0.4% for ETY. Note the risk asymmetry: CLIR runs 5.8 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.
CLIR vs ETY: side by side
| CLIR (ClearSign Technologies Corporation) | ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | |
|---|---|---|
| 1-year return | -23.2% | -0.4% |
| 5-year return | -85.3% | +51.2% |
| Volatility (ann.) | 89.0% | 15.4% |
| Beta vs S&P 500 | 2.06 | 0.97 |
| Max drawdown (3Y) | -78.5% | -21.3% |
| Market cap | – | – |
| P/E (trailing) | – | 5.2 |
| Dividend yield | 0.00% | 8.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLIR | ETY |
|---|---|---|
| 2022 | -60.9% | -21.2% |
| 2023 | +105.6% | +21.9% |
| 2024 | +29.7% | +33.1% |
| 2025 | -61.1% | +11.0% |
| 2026 | -19.1% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLIR and ETY good diversifiers for each other?
Reasonably. At 0.40, CLIR and ETY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CLIR and ETY?
The CLIR/ETY correlation stands at 0.40 on a 3-year window (1 year: 0.41, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is ETY a good diversifier for CLIR?
Reasonably. At 0.40, CLIR and ETY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clir-vs-ety.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clir-vs-ety/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLIR correlations · ETY correlations
