BGY vs EEA: Correlation
How closely do Blackrock Enhanced International Dividend Trust (BGY) and The European Equity Fund, Inc. (EEA) trade together? Their weekly returns over three years give a correlation of 0.72, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGY and EEA?
On 3 years of weekly data the BGY/EEA correlation comes out at 0.72, strong. Recent behaviour matches the longer record: 0.79 over 1 year against 0.72 over 3. The 5-year figure is 0.76, and annualized covariance runs at 174.4 %².
Within BGY's tracked universe of 13 assets, EEA comes in at #6 by 3-year correlation. Their 12-month results are close: +11.9% for BGY against +11.7% for EEA.
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.
BGY vs EEA: side by side
| BGY (Blackrock Enhanced International Dividend Trust) | EEA (The European Equity Fund, Inc.) | |
|---|---|---|
| 1-year return | +11.9% | +11.7% |
| 5-year return | +38.4% | +34.8% |
| Volatility (ann.) | 15.7% | 15.4% |
| Beta vs S&P 500 | 0.77 | 0.61 |
| Max drawdown (3Y) | -15.5% | -14.1% |
| Market cap | $0.5B | $0.1B |
| P/E (trailing) | 6.6 | 4.2 |
| Dividend yield | 8.63% | 6.92% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGY | EEA |
|---|---|---|
| 2022 | -13.6% | -19.0% |
| 2023 | +13.4% | +17.2% |
| 2024 | +8.7% | -3.5% |
| 2025 | +21.3% | +28.8% |
| 2026 | +6.4% | +13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGY and EEA good diversifiers for each other?
To a limited degree. At 0.72 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 BGY and EEA?
As of 2026-08-27, the correlation of weekly returns between BGY and EEA is 0.72 over 3 years, 0.79 over 1 year and 0.76 over 5 years.
Is EEA a good diversifier for BGY?
To a limited degree. At 0.72 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 0.72 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/bgy-vs-eea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bgy-vs-eea/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BGY correlations · EEA correlations
