ETY vs TDG: Correlation
Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) and TransDigm Group (TDG) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETY and TDG?
On 3 years of weekly data the ETY/TDG correlation comes out at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. The 5-year figure is 0.60, and annualized covariance runs at 203.7 %².
By 3-year correlation, TDG places #25 of the 34 assets tracked against ETY. The trailing year gives ETY the advantage: -0.4% versus -9.1%, a 8.7-point spread. Note the risk asymmetry: TDG runs 1.7 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.
ETY vs TDG: side by side
| ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | TDG (TransDigm Group) | |
|---|---|---|
| 1-year return | -0.4% | -9.1% |
| 5-year return | +51.2% | +136.5% |
| Volatility (ann.) | 15.4% | 25.5% |
| Beta vs S&P 500 | 0.97 | 0.91 |
| Max drawdown (3Y) | -21.3% | -25.3% |
| Market cap | – | $65.6B |
| P/E (trailing) | 5.2 | 36.6 |
| Dividend yield | 8.24% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ETY | TDG |
|---|---|---|
| 2022 | -21.2% | +1.8% |
| 2023 | +21.9% | +66.6% |
| 2024 | +33.1% | +32.3% |
| 2025 | +11.0% | +12.2% |
| 2026 | +0.2% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETY and TDG good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ETY and TDG?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.45 over the last year and 0.60 over 5 years.
Is TDG a good diversifier for ETY?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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-tdg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ety-vs-tdg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETY correlations · TDG correlations
