ETY vs UBER: Correlation
Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) and Uber (UBER) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETY and UBER?
Across a 3-year window, the weekly returns of ETY and UBER correlate at 0.55, moderate. The link has loosened recently: the 1-year correlation (0.43) runs below the 3-year figure (0.55). Stretching to 5 years gives 0.50, with an annualized covariance of 310.0 %².
By 3-year correlation, UBER places #21 of the 34 assets tracked against ETY. The last year tells two different stories: ETY led by 18.9 percentage points, -0.4% for ETY against -19.3% for UBER. Note the risk asymmetry: UBER runs 2.4 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 UBER: side by side
| ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | UBER (Uber) | |
|---|---|---|
| 1-year return | -0.4% | -19.3% |
| 5-year return | +51.2% | +94.4% |
| Volatility (ann.) | 15.4% | 36.7% |
| Beta vs S&P 500 | 0.97 | 1.34 |
| Max drawdown (3Y) | -21.3% | -34.1% |
| Market cap | – | $157.2B |
| P/E (trailing) | 5.2 | 17.2 |
| Dividend yield | 8.24% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | ETY | UBER |
|---|---|---|
| 2022 | -21.2% | -41.0% |
| 2023 | +21.9% | +149.0% |
| 2024 | +33.1% | -2.0% |
| 2025 | +11.0% | +35.5% |
| 2026 | +0.2% | -5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETY and UBER good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ETY and UBER?
As of 2026-08-27, the correlation of weekly returns between ETY and UBER is 0.55 over 3 years, 0.43 over 1 year and 0.50 over 5 years.
Is UBER a good diversifier for ETY?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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-uber.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ety-vs-uber/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETY correlations · UBER correlations
