ETO vs IDE: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax-Advantage Global Dividend Opp (ETO) and Voya Infrastructure, Industrials and Materials Fund (IDE) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETO and IDE?
Across a 3-year window, the weekly returns of ETO and IDE correlate at 0.72, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Stretching to 5 years gives 0.73, with an annualized covariance of 196.1 %².
Among the 38 assets we track against ETO, IDE ranks #23 by 3-year correlation. The trailing year gives ETO the advantage: +24.4% versus +17.0%, a 7.4-point spread.
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.
ETO vs IDE: side by side
| ETO (Eaton Vance Tax-Advantage Global Dividend Opp) | IDE (Voya Infrastructure, Industrials and Materials Fund) | |
|---|---|---|
| 1-year return | +24.4% | +17.0% |
| 5-year return | +43.6% | +66.9% |
| Volatility (ann.) | 16.6% | 16.3% |
| Beta vs S&P 500 | 1.02 | 0.73 |
| Max drawdown (3Y) | -18.2% | -18.3% |
| Market cap | $0.5B | $0.2B |
| P/E (trailing) | 3.8 | 3.2 |
| Dividend yield | 6.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETO | IDE |
|---|---|---|
| 2022 | -30.0% | -16.5% |
| 2023 | +21.5% | +22.0% |
| 2024 | +15.5% | +10.9% |
| 2025 | +29.9% | +34.6% |
| 2026 | +9.4% | +13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETO and IDE good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ETO and IDE?
As of 2026-08-27, the correlation of weekly returns between ETO and IDE is 0.72 over 3 years, 0.66 over 1 year and 0.73 over 5 years.
Is IDE a good diversifier for ETO?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 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/eto-vs-ide.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eto-vs-ide/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETO correlations · IDE correlations
