ETY vs PCF: Correlation
Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) and High Income Securities Fund (PCF) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETY and PCF?
Across a 3-year window, the weekly returns of ETY and PCF correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 117.5 %².
Among the 34 assets we track against ETY, PCF ranks #15 by 3-year correlation. Neither side won the trailing year by much: -0.4% against -3.9%.
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 PCF: side by side
| ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | PCF (High Income Securities Fund) | |
|---|---|---|
| 1-year return | -0.4% | -3.9% |
| 5-year return | +51.2% | -2.1% |
| Volatility (ann.) | 15.4% | 12.8% |
| Beta vs S&P 500 | 0.97 | 0.49 |
| Max drawdown (3Y) | -21.3% | -13.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | 5.2 | 25.8 |
| Dividend yield | 8.24% | 13.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETY | PCF |
|---|---|---|
| 2022 | -21.2% | -15.6% |
| 2023 | +21.9% | +10.4% |
| 2024 | +33.1% | +13.8% |
| 2025 | +11.0% | +5.2% |
| 2026 | +0.2% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETY and PCF good diversifiers for each other?
Only partially. A correlation of 0.60 means ETY and PCF 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 ETY and PCF?
As of 2026-08-27, the correlation of weekly returns between ETY and PCF is 0.60 over 3 years, 0.57 over 1 year and 0.54 over 5 years.
Is PCF a good diversifier for ETY?
Only partially. A correlation of 0.60 means ETY and PCF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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
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Related comparisons
Hubs: ETY correlations · PCF correlations
