This study analyzes the relationship between depression and anxiety levels and positive and negative affect, self-esteem, and perceived social support from family and friends in an early and middle adolescent sample. These are psychological variables that are often associated with the prediction of emotional disorders, especially depression. Participants ( = 467) were a representative sample of this group of adolescents and were recruited from schools in the city of Concepción, Chile. Part of the sample ( = 177) was assessed three additional times-at one-, two-, and four-month intervals. Results showed a practical stability of all measures across the four intervals, with no significant differences between sexes. Anxiety and depression displayed a similar pattern of significant relationships with affectivity, self-esteem, and social support. Depression had a higher correlation coefficient (-0.47) with positive affect, and so did anxiety with negative affect (0.58). Taking into account 23 initial scores on affectivity, self-esteem, and social support in predicting both depression and anxiety scores at one-month, two-month, and four-month intervals, positive affect was present in three regression analyses, predicting depression scores; negative affect was present in anxiety scores. Results are discussed according to previous findings, as well as the tripartite model.