ETY vs IBKR: Correlation
How closely do Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) and Interactive Brokers (IBKR) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETY and IBKR?
Across a 3-year window, the weekly returns of ETY and IBKR correlate at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 294.9 %².
By 3-year correlation, IBKR places #18 of the 34 assets tracked against ETY. The last year tells two different stories: IBKR led by 57.4 percentage points, -0.4% for ETY against +57.0% for IBKR. Risk is not evenly split, since IBKR carries 2.2 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.
ETY vs IBKR: side by side
| ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | IBKR (Interactive Brokers) | |
|---|---|---|
| 1-year return | -0.4% | +57.0% |
| 5-year return | +51.2% | +516.0% |
| Volatility (ann.) | 15.4% | 33.9% |
| Beta vs S&P 500 | 0.97 | 1.37 |
| Max drawdown (3Y) | -21.3% | -38.7% |
| Market cap | – | $164.5B |
| P/E (trailing) | 5.2 | 38.5 |
| Dividend yield | 8.24% | 0.34% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | ETY | IBKR |
|---|---|---|
| 2022 | -21.2% | -8.4% |
| 2023 | +21.9% | +15.1% |
| 2024 | +33.1% | +114.4% |
| 2025 | +11.0% | +46.4% |
| 2026 | +0.2% | +50.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETY and IBKR good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ETY and IBKR?
The ETY/IBKR correlation stands at 0.56 on a 3-year window (1 year: 0.56, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is IBKR a good diversifier for ETY?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ETY correlations · IBKR correlations
