ACP vs EVT: Correlation
abrdn Income Credit Strategies Fund (ACP) and Eaton Vance Tax Advantaged Dividend Income Fund (EVT) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACP and EVT?
Over the past 3 years, ACP and EVT moved with a correlation of 0.69, which is strong. The link has tightened recently: the 1-year correlation (0.82) runs above the 3-year figure (0.69). Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 167.7 %².
In ACP's tracked universe of 12 assets, EVT sits right near the top at #1. Correlation aside, the last 12 months split them widely, with EVT ahead by 27.7 points (+1.1% versus +28.8%).
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.
ACP vs EVT: side by side
| ACP (abrdn Income Credit Strategies Fund) | EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | |
|---|---|---|
| 1-year return | +1.1% | +28.8% |
| 5-year return | +0.6% | +51.3% |
| Volatility (ann.) | 16.0% | 15.3% |
| Beta vs S&P 500 | 0.59 | 0.85 |
| Max drawdown (3Y) | -19.0% | -18.7% |
| Market cap | $0.6B | $2.2B |
| P/E (trailing) | 7.7 | 4.5 |
| Dividend yield | 18.53% | 6.80% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACP | EVT |
|---|---|---|
| 2022 | -22.9% | -17.3% |
| 2023 | +19.3% | +5.8% |
| 2024 | +4.8% | +17.4% |
| 2025 | +6.6% | +13.8% |
| 2026 | +4.9% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACP and EVT good diversifiers for each other?
Only partially. A correlation of 0.69 means ACP and EVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ACP and EVT?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.82 over the last year and 0.54 over 5 years.
Is EVT a good diversifier for ACP?
Only partially. A correlation of 0.69 means ACP and EVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
A reading of 0.69 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/acp-vs-evt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acp-vs-evt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACP correlations · EVT correlations
