ETG vs IDXX: Correlation
Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) and Idexx Laboratories (IDXX) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETG and IDXX?
Over the past 3 years, ETG and IDXX moved with a correlation of 0.50, which is moderate. The past 12 months show a weaker link (0.27) than the 3-year average (0.50). Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 258.4 %².
Among the 27 assets we track against ETG, IDXX ranks #20 by 3-year correlation. The last year tells two different stories: ETG led by 40.1 percentage points, +25.2% for ETG against -14.9% for IDXX. Risk is not evenly split, since IDXX carries 1.8 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.
ETG vs IDXX: side by side
| ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | IDXX (Idexx Laboratories) | |
|---|---|---|
| 1-year return | +25.2% | -14.9% |
| 5-year return | +60.6% | -20.7% |
| Volatility (ann.) | 16.9% | 30.9% |
| Beta vs S&P 500 | 1.04 | 1.01 |
| Max drawdown (3Y) | -17.0% | -37.4% |
| Market cap | $1.9B | $42.9B |
| P/E (trailing) | 3.8 | 38.9 |
| Dividend yield | 6.41% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ETG | IDXX |
|---|---|---|
| 2022 | -27.6% | -38.0% |
| 2023 | +22.0% | +36.1% |
| 2024 | +15.4% | -25.5% |
| 2025 | +36.9% | +63.6% |
| 2026 | +9.8% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETG and IDXX good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ETG and IDXX?
As of 2026-08-27, the correlation of weekly returns between ETG and IDXX is 0.50 over 3 years, 0.27 over 1 year and 0.58 over 5 years.
Is IDXX a good diversifier for ETG?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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
$ curl https://www.pairbook.io/api/v1/pairs/etg-vs-idxx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/etg-vs-idxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETG correlations · IDXX correlations
