CPNG vs ETY: Correlation
Measured on weekly returns over the past three years, Coupang, Inc. (CPNG) and Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPNG and ETY?
Across a 3-year window, the weekly returns of CPNG and ETY correlate at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 271.9 %².
ETY is one of the assets that tracks CPNG most closely: it ranks #2 out of the 11 assets we track against CPNG. The last year tells two different stories: ETY led by 42.1 percentage points, -42.5% for CPNG against -0.4% for ETY. Note the risk asymmetry: CPNG runs 2.4 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.
CPNG vs ETY: side by side
| CPNG (Coupang, Inc.) | ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | |
|---|---|---|
| 1-year return | -42.5% | -0.4% |
| 5-year return | -46.1% | +51.2% |
| Volatility (ann.) | 37.4% | 15.4% |
| Beta vs S&P 500 | 0.95 | 0.97 |
| Max drawdown (3Y) | -54.9% | -21.3% |
| Market cap | $29.2B | – |
| P/E (trailing) | – | 5.2 |
| Dividend yield | 0.00% | 8.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPNG | ETY |
|---|---|---|
| 2022 | -49.9% | -21.2% |
| 2023 | +10.1% | +21.9% |
| 2024 | +35.8% | +33.1% |
| 2025 | +7.3% | +11.0% |
| 2026 | -31.2% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPNG and ETY good diversifiers for each other?
Reasonably. At 0.47, CPNG and ETY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CPNG and ETY?
The CPNG/ETY correlation stands at 0.47 on a 3-year window (1 year: 0.52, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is ETY a good diversifier for CPNG?
Reasonably. At 0.47, CPNG and ETY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cpng-vs-ety.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cpng-vs-ety/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CPNG correlations · ETY correlations
