EOI vs EOS: Correlation
How closely do Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced (EOI) and Eaton Vance Enhance Equity Income Fund II (EOS) trade together? Their weekly returns over three years give a correlation of 0.87, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOI and EOS?
On 3 years of weekly data the EOI/EOS correlation comes out at 0.87, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.85) sits close to the 3-year figure. The 5-year figure is 0.87, and annualized covariance runs at 283.0 %².
EOS is one of the assets that tracks EOI most closely: it ranks #1 out of the 19 assets we track against EOI. Twelve-month performance is nearly a tie, at +2.2% for EOI and -1.9% for EOS.
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.
EOI vs EOS: side by side
| EOI (Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced) | EOS (Eaton Vance Enhance Equity Income Fund II) | |
|---|---|---|
| 1-year return | +2.2% | -1.9% |
| 5-year return | +55.4% | +30.9% |
| Volatility (ann.) | 17.0% | 19.2% |
| Beta vs S&P 500 | 0.96 | 1.17 |
| Max drawdown (3Y) | -23.2% | -24.3% |
| Market cap | $0.8B | $1.2B |
| P/E (trailing) | 8.5 | 7.2 |
| Dividend yield | 8.03% | 8.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EOI | EOS |
|---|---|---|
| 2022 | -19.7% | -26.5% |
| 2023 | +20.7% | +22.6% |
| 2024 | +35.8% | +38.7% |
| 2025 | +7.2% | +5.8% |
| 2026 | +3.4% | -2.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOI and EOS good diversifiers for each other?
No: a correlation of 0.87 means EOI and EOS tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between EOI and EOS?
As of 2026-08-27, the correlation of weekly returns between EOI and EOS is 0.87 over 3 years, 0.85 over 1 year and 0.87 over 5 years.
Is EOS a good diversifier for EOI?
No: a correlation of 0.87 means EOI and EOS tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.87 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
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Related comparisons
Hubs: EOI correlations · EOS correlations
