AVK vs EVT: Correlation
Measured on weekly returns over the past three years, Advent Convertible and Income Fund (AVK) and Eaton Vance Tax Advantaged Dividend Income Fund (EVT) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVK and EVT?
Over the past 3 years, AVK and EVT moved with a correlation of 0.78, which is strong. Little has changed lately, as the 1-year reading of 0.76 lands near the 3-year figure. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 197.9 %².
Few assets follow AVK as closely as EVT, which ranks #3 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with EVT ahead by 16.2 points (+12.6% 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.
AVK vs EVT: side by side
| AVK (Advent Convertible and Income Fund) | EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | |
|---|---|---|
| 1-year return | +12.6% | +28.8% |
| 5-year return | +28.2% | +51.3% |
| Volatility (ann.) | 16.6% | 15.3% |
| Beta vs S&P 500 | 0.83 | 0.85 |
| Max drawdown (3Y) | -17.7% | -18.7% |
| Market cap | – | $2.2B |
| P/E (trailing) | 3.8 | 4.5 |
| Dividend yield | 11.20% | 6.80% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVK | EVT |
|---|---|---|
| 2022 | -34.5% | -17.3% |
| 2023 | +18.1% | +5.8% |
| 2024 | +19.4% | +17.4% |
| 2025 | +19.6% | +13.8% |
| 2026 | +7.9% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVK and EVT good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVK and EVT?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.76 over the last year and 0.79 over 5 years.
Is EVT a good diversifier for AVK?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 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/avk-vs-evt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avk-vs-evt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVK correlations · EVT correlations
