BDJ vs GDV: Correlation
How closely do Blackrock Enhanced Equity Dividend Trust (BDJ) and Gabelli Dividend & Income Trust (GDV) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDJ and GDV?
On 3 years of weekly data the BDJ/GDV correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. The 5-year figure is 0.84, and annualized covariance runs at 185.3 %².
Few assets follow BDJ as closely as GDV, which ranks #3 of 16 tracked partners. Their 12-month results are close: +19.0% for BDJ against +20.3% for GDV.
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 GDV: side by side
| BDJ (Blackrock Enhanced Equity Dividend Trust) | GDV (Gabelli Dividend & Income Trust) | |
|---|---|---|
| 1-year return | +19.0% | +20.3% |
| 5-year return | +53.5% | +53.8% |
| Volatility (ann.) | 15.1% | 15.0% |
| Beta vs S&P 500 | 0.72 | 0.90 |
| Max drawdown (3Y) | -14.4% | -16.1% |
| Market cap | $1.7B | $2.7B |
| P/E (trailing) | 6.2 | 6.3 |
| Dividend yield | 7.57% | 5.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDJ | GDV |
|---|---|---|
| 2022 | -1.7% | -18.6% |
| 2023 | -6.7% | +11.9% |
| 2024 | +16.8% | +18.1% |
| 2025 | +26.1% | +22.8% |
| 2026 | +8.9% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDJ and GDV good diversifiers for each other?
No. With a correlation of 0.82, BDJ and GDV move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between BDJ and GDV?
The BDJ/GDV correlation stands at 0.82 on a 3-year window (1 year: 0.81, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is GDV a good diversifier for BDJ?
No. With a correlation of 0.82, BDJ and GDV move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 mean?
A reading of 0.82 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/bdj-vs-gdv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdj-vs-gdv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BDJ correlations · GDV correlations
