BDJ vs EXG: Correlation
Blackrock Enhanced Equity Dividend Trust (BDJ) and Eaton Vance Tax-Managed Global Diversified Equity Income (EXG) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDJ and EXG?
Over the past 3 years, BDJ and EXG moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.87 lands near the 3-year figure. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 182.8 %².
Among the 16 assets we track against BDJ, EXG ranks #4 by 3-year correlation. Their 12-month results are close: +19.0% for BDJ against +22.0% for EXG.
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.
BDJ vs EXG: side by side
| BDJ (Blackrock Enhanced Equity Dividend Trust) | EXG (Eaton Vance Tax-Managed Global Diversified Equity Income) | |
|---|---|---|
| 1-year return | +19.0% | +22.0% |
| 5-year return | +53.5% | +45.8% |
| Volatility (ann.) | 15.1% | 15.0% |
| Beta vs S&P 500 | 0.72 | 0.91 |
| Max drawdown (3Y) | -14.4% | -15.1% |
| Market cap | $1.7B | – |
| P/E (trailing) | 6.2 | 4.5 |
| Dividend yield | 7.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDJ | EXG |
|---|---|---|
| 2022 | -1.7% | -22.2% |
| 2023 | -6.7% | +11.4% |
| 2024 | +16.8% | +16.1% |
| 2025 | +26.1% | +27.8% |
| 2026 | +8.9% | +10.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDJ and EXG good diversifiers for each other?
No: a correlation of 0.81 means BDJ and EXG tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BDJ and EXG?
The BDJ/EXG correlation stands at 0.81 on a 3-year window (1 year: 0.87, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is EXG a good diversifier for BDJ?
No: a correlation of 0.81 means BDJ and EXG tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.81 mean?
On the −1 to +1 scale, 0.81 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bdj-vs-exg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdj-vs-exg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BDJ correlations · EXG correlations
