EOS vs NVDA: Correlation
How closely do Eaton Vance Enhance Equity Income Fund II (EOS) and Nvidia (NVDA) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOS and NVDA?
Across a 3-year window, the weekly returns of EOS and NVDA correlate at 0.69, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 592.6 %².
Among the 34 assets we track against EOS, NVDA ranks #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NVDA ahead by 27.6 points (-1.9% versus +25.7%). Note the risk asymmetry: NVDA runs 2.3 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.
EOS vs NVDA: side by side
| EOS (Eaton Vance Enhance Equity Income Fund II) | NVDA (Nvidia) | |
|---|---|---|
| 1-year return | -1.9% | +25.7% |
| 5-year return | +30.9% | +908.3% |
| Volatility (ann.) | 19.2% | 44.5% |
| Beta vs S&P 500 | 1.17 | 2.18 |
| Max drawdown (3Y) | -24.3% | -36.9% |
| Market cap | $1.2B | $5,505.0B |
| P/E (trailing) | 7.2 | 32.2 |
| Dividend yield | 8.51% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | EOS | NVDA |
|---|---|---|
| 2022 | -26.5% | -50.3% |
| 2023 | +22.6% | +239.0% |
| 2024 | +38.7% | +171.2% |
| 2025 | +5.8% | +38.9% |
| 2026 | -2.2% | +22.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOS and NVDA good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EOS and NVDA?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.62 over the last year and 0.67 over 5 years.
Is NVDA a good diversifier for EOS?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 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.
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Related comparisons
Hubs: EOS correlations · NVDA correlations
