Which stocks are most correlated with ETO?

Based on one year of daily returns, the stocks most correlated with Eaton Vance Tax-Advantaged Global Div Oppor. Fund (ETO) are ETG (0.86), EXG (0.84) and GLOF (0.81). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with ETO?

Over the past year, the stocks most inversely correlated with Eaton Vance Tax-Advantaged Global Div Oppor. Fund (ETO) are SPXS (-0.78), SPXU (-0.78) and SDS (-0.78). A negative correlation means the two stocks have tended to move in opposite directions.

Eaton Vance Tax-Advantaged Global Div Oppor. Fund (ETO) — Stock Correlations & Overview

Over the past year, ETO has moved most closely with ETG, EXG, GLOF. Explore the stocks most correlated and inversely correlated with ETO below, along with its price, financials, and company profile.

Stocks correlated with ETO

Correlation of daily returns. Higher positive values move with ETO; negative values move opposite it. Informational only, not investment advice.

Most correlated with ETO

Symbol	Company	Correlation
ETG	Eaton Vance Tax-Advantaged Global Dividend Income Fund	0.86
EXG	Eaton Vance Tax-Managed Global Diversified Equity Income Fund	0.84
GLOF	iShares Global Equity Factor ETF	0.81
ACWI	iShares MSCI ACWI ETF	0.81
VT	Vanguard Total World Stock ETF	0.81

Most inversely correlated with ETO

Symbol	Company	Correlation
SPXS	Direxion Daily S&P 500 Bear 3x ETF	-0.78
SPXU	ProShares UltraPro Short S&P 500	-0.78
SDS	ProShares UltraShort S&P500	-0.78
SPDN	Direxion Daily S&P 500 Bear 1X ETF	-0.77
SH	ProShares Short S&P500	-0.77

Frequently asked questions about ETO correlations

Which stocks are most correlated with ETO?: Based on one year of daily returns, the stocks most correlated with Eaton Vance Tax-Advantaged Global Div Oppor. Fund (ETO) are ETG (0.86), EXG (0.84) and GLOF (0.81). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with ETO?: Over the past year, the stocks most inversely correlated with Eaton Vance Tax-Advantaged Global Div Oppor. Fund (ETO) are SPXS (-0.78), SPXU (-0.78) and SDS (-0.78). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these ETO correlations calculated?: We compute the correlation of daily returns between ETO and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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