ETY vs SGMT: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) and Sagimet Biosciences Inc. - Series A (SGMT) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETY and SGMT?
Over the past 3 years, ETY and SGMT moved with a correlation of 0.45, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 869.0 %².
Out of 34 assets tracked against ETY, SGMT lands near the bottom at #30. The last year tells two different stories: SGMT led by 38.6 percentage points, -0.4% for ETY against +38.2% for SGMT. One caveat on sizing: SGMT is 8.2 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 SGMT: side by side
| ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | SGMT (Sagimet Biosciences Inc. - Series A) | |
|---|---|---|
| 1-year return | -0.4% | +38.2% |
| 5-year return | +51.2% | n/a |
| Volatility (ann.) | 15.4% | 126.2% |
| Beta vs S&P 500 | 0.97 | 3.24 |
| Max drawdown (3Y) | -21.3% | -89.7% |
| Market cap | – | $0.7B |
| P/E (trailing) | 5.2 | – |
| Dividend yield | 8.24% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETY | SGMT |
|---|---|---|
| 2022 | -21.2% | – |
| 2023 | +21.9% | – |
| 2024 | +33.1% | -17.0% |
| 2025 | +11.0% | +31.6% |
| 2026 | +0.2% | +81.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETY and SGMT good diversifiers for each other?
Reasonably. At 0.45, ETY and SGMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ETY and SGMT?
As of 2026-08-27, the correlation of weekly returns between ETY and SGMT is 0.45 over 3 years, 0.53 over 1 year and n/a over 5 years.
Is SGMT a good diversifier for ETY?
Reasonably. At 0.45, ETY and SGMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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-sgmt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ety-vs-sgmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETY correlations · SGMT correlations
