ETO vs STLA: Correlation
Eaton Vance Tax-Advantage Global Dividend Opp (ETO) and Stellantis N.V. (STLA) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETO and STLA?
Across a 3-year window, the weekly returns of ETO and STLA correlate at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 382.1 %².
Among the 38 assets we track against ETO, STLA ranks #31 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ETO ahead by 68.9 points (+24.4% versus -44.5%). Note the risk asymmetry: STLA runs 2.7 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.
ETO vs STLA: side by side
| ETO (Eaton Vance Tax-Advantage Global Dividend Opp) | STLA (Stellantis N.V.) | |
|---|---|---|
| 1-year return | +24.4% | -44.5% |
| 5-year return | +43.6% | -63.8% |
| Volatility (ann.) | 16.6% | 44.7% |
| Beta vs S&P 500 | 1.02 | 1.33 |
| Max drawdown (3Y) | -18.2% | -80.0% |
| Market cap | $0.5B | $19.9B |
| P/E (trailing) | 3.8 | – |
| Dividend yield | 6.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETO | STLA |
|---|---|---|
| 2022 | -30.0% | -18.2% |
| 2023 | +21.5% | +79.2% |
| 2024 | +15.5% | -40.2% |
| 2025 | +29.9% | -9.2% |
| 2026 | +9.4% | -51.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETO and STLA good diversifiers for each other?
Only partially. A correlation of 0.51 means ETO and STLA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ETO and STLA?
As of 2026-08-27, the correlation of weekly returns between ETO and STLA is 0.51 over 3 years, 0.45 over 1 year and 0.54 over 5 years.
Is STLA a good diversifier for ETO?
Only partially. A correlation of 0.51 means ETO and STLA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 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-stla.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eto-vs-stla/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETO correlations · STLA correlations
