EXG vs TSQ: Correlation
How closely do Eaton Vance Tax-Managed Global Diversified Equity Income (EXG) and Townsquare Media, Inc. (TSQ) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXG and TSQ?
Across a 3-year window, the weekly returns of EXG and TSQ correlate at 0.50, moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.50 over 3. Stretching to 5 years gives 0.40, with an annualized covariance of 311.8 %².
Within EXG's tracked universe of 32 assets, TSQ comes in at #22 by 3-year correlation. The last year tells two different stories: EXG led by 27.4 percentage points, +22.0% for EXG against -5.4% for TSQ. Note the risk asymmetry: TSQ runs 2.8 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.
EXG vs TSQ: side by side
| EXG (Eaton Vance Tax-Managed Global Diversified Equity Income) | TSQ (Townsquare Media, Inc.) | |
|---|---|---|
| 1-year return | +22.0% | -5.4% |
| 5-year return | +45.8% | -37.3% |
| Volatility (ann.) | 15.0% | 41.8% |
| Beta vs S&P 500 | 0.91 | 1.17 |
| Max drawdown (3Y) | -15.1% | -61.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | 4.5 | – |
| Dividend yield | 0.00% | 13.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXG | TSQ |
|---|---|---|
| 2022 | -22.2% | -45.6% |
| 2023 | +11.4% | +57.3% |
| 2024 | +16.1% | -9.3% |
| 2025 | +27.8% | -37.4% |
| 2026 | +10.7% | +24.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXG and TSQ good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between EXG and TSQ?
As of 2026-08-27, the correlation of weekly returns between EXG and TSQ is 0.50 over 3 years, 0.59 over 1 year and 0.40 over 5 years.
Is TSQ a good diversifier for EXG?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/exg-vs-tsq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exg-vs-tsq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXG correlations · TSQ correlations
