EOI vs ETJ: Correlation
Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced (EOI) and Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOI and ETJ?
On 3 years of weekly data the EOI/ETJ correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.80 over 3. The 5-year figure is 0.75, and annualized covariance runs at 176.0 %².
Among the 19 assets we track against EOI, ETJ ranks #7 by 3-year correlation. Neither side won the trailing year by much: +2.2% against +3.4%.
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 ETJ: side by side
| EOI (Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced) | ETJ (Eaton Vance Risk-Managed Diversified Equity Income Fund) | |
|---|---|---|
| 1-year return | +2.2% | +3.4% |
| 5-year return | +55.4% | +19.5% |
| Volatility (ann.) | 17.0% | 13.0% |
| Beta vs S&P 500 | 0.96 | 0.71 |
| Max drawdown (3Y) | -23.2% | -15.4% |
| Market cap | $0.8B | $0.6B |
| P/E (trailing) | 8.5 | 11.4 |
| Dividend yield | 8.03% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EOI | ETJ |
|---|---|---|
| 2022 | -19.7% | -22.7% |
| 2023 | +20.7% | +14.2% |
| 2024 | +35.8% | +29.5% |
| 2025 | +7.2% | +3.5% |
| 2026 | +3.4% | +2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOI and ETJ good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between EOI and ETJ?
As of 2026-08-27, the correlation of weekly returns between EOI and ETJ is 0.80 over 3 years, 0.83 over 1 year and 0.75 over 5 years.
Is ETJ a good diversifier for EOI?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 mean?
A reading of 0.80 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-etj.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eoi-vs-etj/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EOI correlations · ETJ correlations
