BOE vs GIL: Correlation
Measured on weekly returns over the past three years, Blackrock Enhanced Global Dividend Trust (BOE) and Gildan Activewear, Inc. Class A Sub. Vot. (GIL) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and GIL?
Across a 3-year window, the weekly returns of BOE and GIL correlate at 0.53, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.53 over 3. Stretching to 5 years gives 0.52, with an annualized covariance of 233.3 %².
Among the 27 assets we track against BOE, GIL ranks #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BOE ahead by 20.3 points (+17.7% versus -2.6%). Risk is not evenly split, since GIL carries 2.3 times the volatility of the other side.
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 GIL: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | GIL (Gildan Activewear, Inc. Class A Sub. Vot.) | |
|---|---|---|
| 1-year return | +17.7% | -2.6% |
| 5-year return | +46.4% | +52.0% |
| Volatility (ann.) | 13.8% | 31.8% |
| Beta vs S&P 500 | 0.79 | 1.02 |
| Max drawdown (3Y) | -14.5% | -31.3% |
| Market cap | – | $9.9B |
| P/E (trailing) | 6.8 | 41.6 |
| Dividend yield | 7.95% | 1.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOE | GIL |
|---|---|---|
| 2022 | -15.5% | -33.9% |
| 2023 | +12.0% | +23.6% |
| 2024 | +16.8% | +45.3% |
| 2025 | +18.8% | +34.5% |
| 2026 | +12.2% | -13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and GIL good diversifiers for each other?
Only partially. A correlation of 0.53 means BOE and GIL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BOE and GIL?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.44 over the last year and 0.52 over 5 years.
Is GIL a good diversifier for BOE?
Only partially. A correlation of 0.53 means BOE and GIL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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.
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Related comparisons
Hubs: BOE correlations · GIL correlations
