APD vs GDV: Correlation
How closely do Air Products (APD) and Gabelli Dividend & Income Trust (GDV) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APD and GDV?
Across a 3-year window, the weekly returns of APD and GDV correlate at 0.44, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.44). Stretching to 5 years gives 0.51, with an annualized covariance of 175.6 %².
Within APD's tracked universe of 33 assets, GDV comes in at #13 by 3-year correlation. On 12-month performance GDV holds a 13.8-point edge, +6.5% against +20.3%. Risk is not evenly split, since APD carries 1.8 times the volatility of the other side.
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.
APD vs GDV: side by side
| APD (Air Products) | GDV (Gabelli Dividend & Income Trust) | |
|---|---|---|
| 1-year return | +6.5% | +20.3% |
| 5-year return | +28.2% | +53.8% |
| Volatility (ann.) | 26.7% | 15.0% |
| Beta vs S&P 500 | 0.64 | 0.90 |
| Max drawdown (3Y) | -30.4% | -16.1% |
| Market cap | $68.0B | $2.7B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 2.35% | 5.51% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | APD | GDV |
|---|---|---|
| 2022 | +3.9% | -18.6% |
| 2023 | -9.0% | +11.9% |
| 2024 | +8.1% | +18.1% |
| 2025 | -12.7% | +22.8% |
| 2026 | +26.1% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APD and GDV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between APD and GDV?
The APD/GDV correlation stands at 0.44 on a 3-year window (1 year: 0.26, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is GDV a good diversifier for APD?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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/apd-vs-gdv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apd-vs-gdv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APD correlations · GDV correlations
