ETB vs GLBE: Correlation
Eaton Vance Tax-Managed Buy-Write Income Fund Eaton Vance (ETB) and Global-E Online Ltd. (GLBE) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETB and GLBE?
On 3 years of weekly data the ETB/GLBE correlation comes out at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. The 5-year figure is 0.39, and annualized covariance runs at 379.4 %².
Among the 20 assets we track against ETB, GLBE ranks #13 by 3-year correlation. On 12-month performance GLBE holds a 5.2-point edge, +14.2% against +19.4%. Risk is not evenly split, since GLBE carries 3.7 times the volatility of the other side.
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.
ETB vs GLBE: side by side
| ETB (Eaton Vance Tax-Managed Buy-Write Income Fund Eaton Vance) | GLBE (Global-E Online Ltd.) | |
|---|---|---|
| 1-year return | +14.2% | +19.4% |
| 5-year return | +44.4% | -51.4% |
| Volatility (ann.) | 13.9% | 51.3% |
| Beta vs S&P 500 | 0.83 | 1.64 |
| Max drawdown (3Y) | -20.1% | -56.2% |
| Market cap | $0.5B | $6.6B |
| P/E (trailing) | 7.7 | 44.4 |
| Dividend yield | 8.13% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETB | GLBE |
|---|---|---|
| 2022 | -16.6% | -67.4% |
| 2023 | +7.5% | +92.0% |
| 2024 | +26.2% | +37.6% |
| 2025 | +11.2% | -27.9% |
| 2026 | +8.7% | +0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETB and GLBE good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ETB and GLBE?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.45 over the last year and 0.39 over 5 years.
Is GLBE a good diversifier for ETB?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ETB correlations · GLBE correlations
