ETG vs SPMC: Correlation
How closely do Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) and Sound Point Meridian Capital, Inc. (SPMC) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETG and SPMC?
On 3 years of weekly data the ETG/SPMC correlation comes out at 0.46, moderate. The past 12 months show a weaker link (0.35) than the 3-year average (0.46). The 5-year figure is n/a, and annualized covariance runs at 242.4 %².
By 3-year correlation, SPMC places #22 of the 27 assets tracked against ETG. The last year tells two different stories: ETG led by 59.8 percentage points, +25.2% for ETG against -34.6% for SPMC. Note the risk asymmetry: SPMC runs 1.9 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.
ETG vs SPMC: side by side
| ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | SPMC (Sound Point Meridian Capital, Inc.) | |
|---|---|---|
| 1-year return | +25.2% | -34.6% |
| 5-year return | +60.6% | n/a |
| Volatility (ann.) | 16.9% | 31.4% |
| Beta vs S&P 500 | 1.04 | 1.01 |
| Max drawdown (3Y) | -17.0% | -52.9% |
| Market cap | $1.9B | $0.2B |
| P/E (trailing) | 3.8 | – |
| Dividend yield | 6.41% | 30.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETG | SPMC |
|---|---|---|
| 2022 | -27.6% | – |
| 2023 | +22.0% | – |
| 2024 | +15.4% | – |
| 2025 | +36.9% | -22.5% |
| 2026 | +9.8% | -20.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETG and SPMC good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ETG and SPMC?
The ETG/SPMC correlation stands at 0.46 on a 3-year window (1 year: 0.35, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPMC a good diversifier for ETG?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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-spmc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/etg-vs-spmc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETG correlations · SPMC correlations
