ETY vs META: Correlation
How closely do Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) and Meta Platforms (META) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETY and META?
On 3 years of weekly data the ETY/META correlation comes out at 0.58, moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.58 over 3. The 5-year figure is 0.48, and annualized covariance runs at 329.9 %².
Within ETY's tracked universe of 34 assets, META comes in at #16 by 3-year correlation. The last year tells two different stories: ETY led by 22.9 percentage points, -0.4% for ETY against -23.3% for META. One caveat on sizing: META is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 META: side by side
| ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | META (Meta Platforms) | |
|---|---|---|
| 1-year return | -0.4% | -23.3% |
| 5-year return | +51.2% | +51.3% |
| Volatility (ann.) | 15.4% | 36.9% |
| Beta vs S&P 500 | 0.97 | 1.45 |
| Max drawdown (3Y) | -21.3% | -34.2% |
| Market cap | – | $1,454.9B |
| P/E (trailing) | 5.2 | 21.7 |
| Dividend yield | 8.24% | 0.36% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | ETY | META |
|---|---|---|
| 2022 | -21.2% | -64.2% |
| 2023 | +21.9% | +194.1% |
| 2024 | +33.1% | +66.0% |
| 2025 | +11.0% | +13.1% |
| 2026 | +0.2% | -13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETY and META good diversifiers for each other?
To a limited degree. At 0.58 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 META?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.56 over the last year and 0.48 over 5 years.
Is META a good diversifier for ETY?
To a limited degree. At 0.58 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 0.58 mean?
On the −1 to +1 scale, 0.58 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ety-vs-meta.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ety-vs-meta/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETY correlations · META correlations
