BOE vs GEHC: Correlation
Blackrock Enhanced Global Dividend Trust (BOE) and GE HealthCare (GEHC) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and GEHC?
On 3 years of weekly data the BOE/GEHC correlation comes out at 0.61, strong. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.61). The 5-year figure is 0.57, and annualized covariance runs at 272.2 %².
By 3-year correlation, GEHC places #19 of the 27 assets tracked against BOE. Correlation aside, the last 12 months split them widely, with BOE ahead by 19.9 points (+17.7% versus -2.2%). One caveat on sizing: GEHC is 2.3 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.
BOE vs GEHC: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | GEHC (GE HealthCare) | |
|---|---|---|
| 1-year return | +17.7% | -2.2% |
| 5-year return | +46.4% | n/a |
| Volatility (ann.) | 13.8% | 32.4% |
| Beta vs S&P 500 | 0.79 | 1.22 |
| Max drawdown (3Y) | -14.5% | -37.4% |
| Market cap | – | $32.7B |
| P/E (trailing) | 6.8 | 16.9 |
| Dividend yield | 7.95% | 0.19% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BOE | GEHC |
|---|---|---|
| 2022 | -15.5% | – |
| 2023 | +12.0% | +32.6% |
| 2024 | +16.8% | +1.3% |
| 2025 | +18.8% | +5.1% |
| 2026 | +12.2% | -11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and GEHC good diversifiers for each other?
To a limited degree. At 0.61 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 BOE and GEHC?
As of 2026-08-27, the correlation of weekly returns between BOE and GEHC is 0.61 over 3 years, 0.44 over 1 year and 0.57 over 5 years.
Is GEHC a good diversifier for BOE?
To a limited degree. At 0.61 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 0.61 mean?
On the −1 to +1 scale, 0.61 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/boe-vs-gehc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/boe-vs-gehc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BOE correlations · GEHC correlations
