BOE vs HEQ: Correlation
How closely do Blackrock Enhanced Global Dividend Trust (BOE) and John Hancock Diversified Income Fund (HEQ) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and HEQ?
Over the past 3 years, BOE and HEQ moved with a correlation of 0.76, which is strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 129.4 %².
Within BOE's tracked universe of 27 assets, HEQ comes in at #13 by 3-year correlation. Their 12-month results are close: +17.7% for BOE against +20.8% for HEQ.
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 HEQ: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | HEQ (John Hancock Diversified Income Fund) | |
|---|---|---|
| 1-year return | +17.7% | +20.8% |
| 5-year return | +46.4% | +43.5% |
| Volatility (ann.) | 13.8% | 12.3% |
| Beta vs S&P 500 | 0.79 | 0.59 |
| Max drawdown (3Y) | -14.5% | -11.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | 6.8 | 7.6 |
| Dividend yield | 7.95% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOE | HEQ |
|---|---|---|
| 2022 | -15.5% | -3.1% |
| 2023 | +12.0% | -3.1% |
| 2024 | +16.8% | +11.7% |
| 2025 | +18.8% | +15.6% |
| 2026 | +12.2% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and HEQ good diversifiers for each other?
To a limited degree. At 0.76 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 HEQ?
As of 2026-08-27, the correlation of weekly returns between BOE and HEQ is 0.76 over 3 years, 0.70 over 1 year and 0.59 over 5 years.
Is HEQ a good diversifier for BOE?
To a limited degree. At 0.76 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 0.76 mean?
On the −1 to +1 scale, 0.76 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-heq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/boe-vs-heq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BOE correlations · HEQ correlations
