ETO vs RGT: Correlation
Eaton Vance Tax-Advantage Global Dividend Opp (ETO) and Royce Global Trust, Inc. (RGT) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETO and RGT?
Over the past 3 years, ETO and RGT moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.79 over 1 year against 0.83 over 3. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 233.4 %².
Within ETO's tracked universe of 38 assets, RGT comes in at #12 by 3-year correlation. Twelve-month performance is nearly a tie, at +24.4% for ETO and +24.1% for RGT.
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 RGT: side by side
| ETO (Eaton Vance Tax-Advantage Global Dividend Opp) | RGT (Royce Global Trust, Inc.) | |
|---|---|---|
| 1-year return | +24.4% | +24.1% |
| 5-year return | +43.6% | +25.5% |
| Volatility (ann.) | 16.6% | 17.0% |
| Beta vs S&P 500 | 1.02 | 0.91 |
| Max drawdown (3Y) | -18.2% | -19.0% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | 3.8 | 5.4 |
| Dividend yield | 6.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETO | RGT |
|---|---|---|
| 2022 | -30.0% | -33.1% |
| 2023 | +21.5% | +14.6% |
| 2024 | +15.5% | +14.4% |
| 2025 | +29.9% | +24.1% |
| 2026 | +9.4% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETO and RGT good diversifiers for each other?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ETO and RGT?
The ETO/RGT correlation stands at 0.83 on a 3-year window (1 year: 0.79, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is RGT a good diversifier for ETO?
Not really. At 0.83, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.83 mean?
A reading of 0.83 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ETO correlations · RGT correlations
