EOI vs ETB: Correlation
Measured on weekly returns over the past three years, Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced (EOI) and Eaton Vance Tax-Managed Buy-Write Income Fund Eaton Vance (ETB) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOI and ETB?
On 3 years of weekly data the EOI/ETB correlation comes out at 0.87, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 204.8 %².
Few assets follow EOI as closely as ETB, which ranks #2 of 19 tracked partners. The trailing year gives ETB the advantage: +2.2% versus +14.2%, a 12.0-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.
EOI vs ETB: side by side
| EOI (Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced) | ETB (Eaton Vance Tax-Managed Buy-Write Income Fund Eaton Vance) | |
|---|---|---|
| 1-year return | +2.2% | +14.2% |
| 5-year return | +55.4% | +44.4% |
| Volatility (ann.) | 17.0% | 13.9% |
| Beta vs S&P 500 | 0.96 | 0.83 |
| Max drawdown (3Y) | -23.2% | -20.1% |
| Market cap | $0.8B | $0.5B |
| P/E (trailing) | 8.5 | 7.7 |
| Dividend yield | 8.03% | 8.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EOI | ETB |
|---|---|---|
| 2022 | -19.7% | -16.6% |
| 2023 | +20.7% | +7.5% |
| 2024 | +35.8% | +26.2% |
| 2025 | +7.2% | +11.2% |
| 2026 | +3.4% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOI and ETB good diversifiers for each other?
No. With a correlation of 0.87, EOI and ETB move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between EOI and ETB?
As of 2026-08-27, the correlation of weekly returns between EOI and ETB is 0.87 over 3 years, 0.84 over 1 year and 0.71 over 5 years.
Is ETB a good diversifier for EOI?
No. With a correlation of 0.87, EOI and ETB move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 mean?
A reading of 0.87 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/eoi-vs-etb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eoi-vs-etb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EOI correlations · ETB correlations
