EXG vs GRMN: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax-Managed Global Diversified Equity Income (EXG) and Garmin (GRMN) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXG and GRMN?
Over the past 3 years, EXG and GRMN moved with a correlation of 0.49, which is moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 253.3 %².
Within EXG's tracked universe of 32 assets, GRMN comes in at #23 by 3-year correlation. Their 12-month results are close: +22.0% for EXG against +25.1% for GRMN. Risk is not evenly split, since GRMN carries 2.3 times the volatility of the other side.
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.
EXG vs GRMN: side by side
| EXG (Eaton Vance Tax-Managed Global Diversified Equity Income) | GRMN (Garmin) | |
|---|---|---|
| 1-year return | +22.0% | +25.1% |
| 5-year return | +45.8% | +80.9% |
| Volatility (ann.) | 15.0% | 34.7% |
| Beta vs S&P 500 | 0.91 | 1.06 |
| Max drawdown (3Y) | -15.1% | -28.0% |
| Market cap | – | $55.9B |
| P/E (trailing) | 4.5 | 29.9 |
| Dividend yield | 0.00% | 1.45% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | EXG | GRMN |
|---|---|---|
| 2022 | -22.2% | -30.2% |
| 2023 | +11.4% | +43.1% |
| 2024 | +16.1% | +63.3% |
| 2025 | +27.8% | -0.1% |
| 2026 | +10.7% | +44.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXG and GRMN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EXG and GRMN?
As of 2026-08-27, the correlation of weekly returns between EXG and GRMN is 0.49 over 3 years, 0.40 over 1 year and 0.51 over 5 years.
Is GRMN a good diversifier for EXG?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/exg-vs-grmn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exg-vs-grmn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EXG correlations · GRMN correlations
