ECO vs TLT: Correlation
How closely do Okeanis Eco Tankers Corp. (ECO) and iShares 20+ Year Treasury Bond ETF (TLT) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECO and TLT?
Over the past 3 years, ECO and TLT moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.09) than the 3-year average (-0.25). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -152.0 %².
TLT is close to the least connected end of ECO's tracked universe, ranking #12 of 13. The last year tells two different stories: ECO led by 189.5 percentage points, +189.8% for ECO against +0.3% for TLT. Note the risk asymmetry: ECO runs 3.3 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.
ECO vs TLT: side by side
| ECO (Okeanis Eco Tankers Corp.) | TLT (iShares 20+ Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | +189.8% | +0.3% |
| 5-year return | n/a | -34.0% |
| Volatility (ann.) | 44.3% | 13.5% |
| Beta vs S&P 500 | 0.52 | 0.11 |
| Max drawdown (3Y) | -46.1% | -14.8% |
| Market cap | $2.6B | – |
| P/E (trailing) | 5.8 | – |
| Dividend yield | 0.00% | 4.75% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $41.5B |
| Sector / category | US Listed | ETF · Bonds |
On the fund side, TLT sits in the Long Government category at iShares, with $41.5B under management, a 0.15% expense ratio, a 4.75% trailing dividend yield.
Year-by-year returns
| Year | ECO | TLT |
|---|---|---|
| 2022 | – | -31.2% |
| 2023 | – | +2.8% |
| 2024 | -11.7% | -8.1% |
| 2025 | +64.2% | +4.2% |
| 2026 | +128.8% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECO and TLT good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between ECO and TLT?
The ECO/TLT correlation stands at -0.25 on a 3-year window (1 year: 0.09, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TLT a good diversifier for ECO?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/eco-vs-tlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eco-vs-tlt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ECO correlations · TLT correlations
