BGX vs EVG: Correlation
Blackstone Long Short Credit Income Fund (BGX) and Eaton Vance Short Diversified Income Fund Eaton Vance Short (EVG) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGX and EVG?
Over the past 3 years, BGX and EVG moved with a correlation of 0.62, which is strong. Recent behaviour matches the longer record: 0.60 over 1 year against 0.62 over 3. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 52.3 %².
Among the 14 assets we track against BGX, EVG ranks #6 by 3-year correlation. On 12-month performance EVG holds a 8.9-point edge, -6.6% against +2.3%.
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.
BGX vs EVG: side by side
| BGX (Blackstone Long Short Credit Income Fund) | EVG (Eaton Vance Short Diversified Income Fund Eaton Vance Short) | |
|---|---|---|
| 1-year return | -6.6% | +2.3% |
| 5-year return | +15.1% | +24.1% |
| Volatility (ann.) | 10.0% | 8.4% |
| Beta vs S&P 500 | 0.39 | 0.27 |
| Max drawdown (3Y) | -14.1% | -8.2% |
| Market cap | $0.1B | – |
| P/E (trailing) | 15.3 | 10.2 |
| Dividend yield | 0.00% | 8.42% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGX | EVG |
|---|---|---|
| 2022 | -20.6% | -14.1% |
| 2023 | +18.9% | +11.9% |
| 2024 | +19.8% | +14.8% |
| 2025 | +2.1% | +8.4% |
| 2026 | -3.3% | +2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGX and EVG good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BGX and EVG?
As of 2026-08-27, the correlation of weekly returns between BGX and EVG is 0.62 over 3 years, 0.60 over 1 year and 0.58 over 5 years.
Is EVG a good diversifier for BGX?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
A reading of 0.62 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/bgx-vs-evg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgx-vs-evg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BGX correlations · EVG correlations
