ETG vs PCF: Correlation
How closely do Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) and High Income Securities Fund (PCF) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETG and PCF?
On 3 years of weekly data the ETG/PCF correlation comes out at 0.60, strong. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 129.4 %².
Within ETG's tracked universe of 27 assets, PCF comes in at #18 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ETG outperformed by 29.1 percentage points (+25.2% for ETG against -3.9% for PCF).
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 PCF: side by side
| ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | PCF (High Income Securities Fund) | |
|---|---|---|
| 1-year return | +25.2% | -3.9% |
| 5-year return | +60.6% | -2.1% |
| Volatility (ann.) | 16.9% | 12.8% |
| Beta vs S&P 500 | 1.04 | 0.49 |
| Max drawdown (3Y) | -17.0% | -13.8% |
| Market cap | $1.9B | $0.1B |
| P/E (trailing) | 3.8 | 25.8 |
| Dividend yield | 6.41% | 13.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETG | PCF |
|---|---|---|
| 2022 | -27.6% | -15.6% |
| 2023 | +22.0% | +10.4% |
| 2024 | +15.4% | +13.8% |
| 2025 | +36.9% | +5.2% |
| 2026 | +9.8% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETG and PCF good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ETG and PCF?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.57 over the last year and 0.56 over 5 years.
Is PCF a good diversifier for ETG?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/etg-vs-pcf.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/etg-vs-pcf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETG correlations · PCF correlations
