BDJ vs GEHC: Correlation
How closely do Blackrock Enhanced Equity Dividend Trust (BDJ) and GE HealthCare (GEHC) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDJ and GEHC?
Over the past 3 years, BDJ and GEHC moved with a correlation of 0.60, which is strong. The past 12 months show a weaker link (0.49) than the 3-year average (0.60). Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 292.7 %².
By 3-year correlation, GEHC places #7 of the 16 assets tracked against BDJ. The last year tells two different stories: BDJ led by 21.2 percentage points, +19.0% for BDJ against -2.2% for GEHC. One caveat on sizing: GEHC is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 GEHC: side by side
| BDJ (Blackrock Enhanced Equity Dividend Trust) | GEHC (GE HealthCare) | |
|---|---|---|
| 1-year return | +19.0% | -2.2% |
| 5-year return | +53.5% | n/a |
| Volatility (ann.) | 15.1% | 32.4% |
| Beta vs S&P 500 | 0.72 | 1.22 |
| Max drawdown (3Y) | -14.4% | -37.4% |
| Market cap | $1.7B | $32.7B |
| P/E (trailing) | 6.2 | 16.9 |
| Dividend yield | 7.57% | 0.19% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BDJ | GEHC |
|---|---|---|
| 2022 | -1.7% | – |
| 2023 | -6.7% | +32.6% |
| 2024 | +16.8% | +1.3% |
| 2025 | +26.1% | +5.1% |
| 2026 | +8.9% | -11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDJ and GEHC good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BDJ and GEHC?
As of 2026-08-27, the correlation of weekly returns between BDJ and GEHC is 0.60 over 3 years, 0.49 over 1 year and 0.56 over 5 years.
Is GEHC a good diversifier for BDJ?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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-gehc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdj-vs-gehc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BDJ correlations · GEHC correlations
