ETO vs MIST: Correlation
How closely do Eaton Vance Tax-Advantage Global Dividend Opp (ETO) and Milestone Pharmaceuticals Inc. (MIST) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETO and MIST?
On 3 years of weekly data the ETO/MIST correlation comes out at 0.44, moderate. The past 12 months show a tighter link (0.60) than the 3-year average (0.44). The 5-year figure is 0.27, and annualized covariance runs at 662.6 %².
By 3-year correlation, MIST places #33 of the 38 assets tracked against ETO. The last year tells two different stories: ETO led by 57.2 percentage points, +24.4% for ETO against -32.8% for MIST. Risk is not evenly split, since MIST carries 5.5 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.
ETO vs MIST: side by side
| ETO (Eaton Vance Tax-Advantage Global Dividend Opp) | MIST (Milestone Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | +24.4% | -32.8% |
| 5-year return | +43.6% | -80.4% |
| Volatility (ann.) | 16.6% | 91.2% |
| Beta vs S&P 500 | 1.02 | 2.57 |
| Max drawdown (3Y) | -18.2% | -80.7% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | 3.8 | – |
| Dividend yield | 6.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETO | MIST |
|---|---|---|
| 2022 | -30.0% | -39.5% |
| 2023 | +21.5% | -57.8% |
| 2024 | +15.5% | +41.3% |
| 2025 | +29.9% | -14.4% |
| 2026 | +9.4% | -41.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETO and MIST good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ETO and MIST?
The ETO/MIST correlation stands at 0.44 on a 3-year window (1 year: 0.60, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is MIST a good diversifier for ETO?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
A reading of 0.44 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-mist.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eto-vs-mist/)
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Related comparisons
Hubs: ETO correlations · MIST correlations
