CLM vs ETB: Correlation
Measured on weekly returns over the past three years, Cornerstone Strategic Investment Fund, Inc. (CLM) and Eaton Vance Tax-Managed Buy-Write Income Fund Eaton Vance (ETB) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLM and ETB?
Over the past 3 years, CLM and ETB moved with a correlation of 0.68, which is strong. The past 12 months show a weaker link (0.56) than the 3-year average (0.68). Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 187.3 %².
Few assets follow CLM as closely as ETB, which ranks #3 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months ETB outperformed by 15.6 percentage points (-1.4% for CLM against +14.2% for ETB).
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.
CLM vs ETB: side by side
| CLM (Cornerstone Strategic Investment Fund, Inc.) | ETB (Eaton Vance Tax-Managed Buy-Write Income Fund Eaton Vance) | |
|---|---|---|
| 1-year return | -1.4% | +14.2% |
| 5-year return | +31.9% | +44.4% |
| Volatility (ann.) | 19.8% | 13.9% |
| Beta vs S&P 500 | 0.86 | 0.83 |
| Max drawdown (3Y) | -23.9% | -20.1% |
| Market cap | $2.1B | $0.5B |
| P/E (trailing) | 6.1 | 7.7 |
| Dividend yield | 21.96% | 8.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLM | ETB |
|---|---|---|
| 2022 | -36.7% | -16.6% |
| 2023 | +17.5% | +7.5% |
| 2024 | +41.6% | +26.2% |
| 2025 | +18.5% | +11.2% |
| 2026 | -9.7% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLM and ETB good diversifiers for each other?
Only partially. A correlation of 0.68 means CLM and ETB 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 CLM and ETB?
The CLM/ETB correlation stands at 0.68 on a 3-year window (1 year: 0.56, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is ETB a good diversifier for CLM?
Only partially. A correlation of 0.68 means CLM and ETB 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/clm-vs-etb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/clm-vs-etb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLM correlations · ETB correlations
