ETO vs LGI: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax-Advantage Global Dividend Opp (ETO) and Lazard Global Total Return and Income Fund (LGI) carry a correlation of 0.81, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETO and LGI?
Across a 3-year window, the weekly returns of ETO and LGI correlate at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Stretching to 5 years gives 0.82, with an annualized covariance of 245.1 %².
Within ETO's tracked universe of 38 assets, LGI comes in at #14 by 3-year correlation. On 12-month performance ETO holds a 9.1-point edge, +24.4% against +15.3%.
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 LGI: side by side
| ETO (Eaton Vance Tax-Advantage Global Dividend Opp) | LGI (Lazard Global Total Return and Income Fund) | |
|---|---|---|
| 1-year return | +24.4% | +15.3% |
| 5-year return | +43.6% | +38.1% |
| Volatility (ann.) | 16.6% | 18.2% |
| Beta vs S&P 500 | 1.02 | 0.97 |
| Max drawdown (3Y) | -18.2% | -22.0% |
| Market cap | $0.5B | – |
| P/E (trailing) | 3.8 | 7.2 |
| Dividend yield | 6.57% | 9.55% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETO | LGI |
|---|---|---|
| 2022 | -30.0% | -20.6% |
| 2023 | +21.5% | +12.8% |
| 2024 | +15.5% | +14.4% |
| 2025 | +29.9% | +21.3% |
| 2026 | +9.4% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETO and LGI good diversifiers for each other?
No. With a correlation of 0.81, ETO and LGI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ETO and LGI?
As of 2026-08-27, the correlation of weekly returns between ETO and LGI is 0.81 over 3 years, 0.76 over 1 year and 0.82 over 5 years.
Is LGI a good diversifier for ETO?
No. With a correlation of 0.81, ETO and LGI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
A reading of 0.81 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eto-vs-lgi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eto-vs-lgi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETO correlations · LGI correlations
