EXG vs OTIS: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax-Managed Global Diversified Equity Income (EXG) and Otis Worldwide (OTIS) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXG and OTIS?
Over the past 3 years, EXG and OTIS moved with a correlation of 0.53, which is moderate. The relationship has been stable: the 1-year correlation (0.56) sits close to the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 153.3 %².
By 3-year correlation, OTIS places #20 of the 32 assets tracked against EXG. The last year tells two different stories: EXG led by 38.8 percentage points, +22.0% for EXG against -16.8% for OTIS.
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 OTIS: side by side
| EXG (Eaton Vance Tax-Managed Global Diversified Equity Income) | OTIS (Otis Worldwide) | |
|---|---|---|
| 1-year return | +22.0% | -16.8% |
| 5-year return | +45.8% | -15.9% |
| Volatility (ann.) | 15.0% | 19.1% |
| Beta vs S&P 500 | 0.91 | 0.59 |
| Max drawdown (3Y) | -15.1% | -32.4% |
| Market cap | – | $27.2B |
| P/E (trailing) | 4.5 | 18.4 |
| Dividend yield | 0.00% | 2.35% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | EXG | OTIS |
|---|---|---|
| 2022 | -22.2% | -8.8% |
| 2023 | +11.4% | +16.0% |
| 2024 | +16.1% | +5.2% |
| 2025 | +27.8% | -4.0% |
| 2026 | +10.7% | -16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXG and OTIS good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EXG and OTIS?
The EXG/OTIS correlation stands at 0.53 on a 3-year window (1 year: 0.56, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is OTIS a good diversifier for EXG?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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.
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Related comparisons
Hubs: EXG correlations · OTIS correlations
