EEA vs SWZ: Correlation
The European Equity Fund, Inc. (EEA) and Total Return Securities Fund (SWZ) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EEA and SWZ?
On 3 years of weekly data the EEA/SWZ correlation comes out at 0.60, strong. Lately the two have drifted apart, with the 1-year correlation at 0.48 versus 0.60 over 3 years. The 5-year figure is 0.73, and annualized covariance runs at 126.3 %².
Among the 14 assets we track against EEA, SWZ ranks #6 by 3-year correlation. The trailing year gives EEA the advantage: +11.7% versus -1.2%, a 12.9-point spread.
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.
EEA vs SWZ: side by side
| EEA (The European Equity Fund, Inc.) | SWZ (Total Return Securities Fund) | |
|---|---|---|
| 1-year return | +11.7% | -1.2% |
| 5-year return | +34.8% | +13.9% |
| Volatility (ann.) | 15.4% | 13.7% |
| Beta vs S&P 500 | 0.61 | 0.41 |
| Max drawdown (3Y) | -14.1% | -15.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | 4.2 | 4.3 |
| Dividend yield | 6.92% | 2.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EEA | SWZ |
|---|---|---|
| 2022 | -19.0% | -17.7% |
| 2023 | +17.2% | +15.5% |
| 2024 | -3.5% | -2.5% |
| 2025 | +28.8% | +24.1% |
| 2026 | +13.6% | -3.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EEA and SWZ good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EEA and SWZ?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.48 over the last year and 0.73 over 5 years.
Is SWZ a good diversifier for EEA?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/eea-vs-swz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eea-vs-swz/)
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Related comparisons
Hubs: EEA correlations · SWZ correlations
