BTZ vs EVV: Correlation
How closely do BlackRock Credit Allocation Income Trust (BTZ) and Eaton Vance Limited Duration Income Fund (EVV) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTZ and EVV?
Across a 3-year window, the weekly returns of BTZ and EVV correlate at 0.78, strong. The relationship has been stable: the 1-year correlation (0.81) sits close to the 3-year figure. Stretching to 5 years gives 0.70, with an annualized covariance of 90.9 %².
EVV is one of the assets that tracks BTZ most closely: it ranks #1 out of the 25 assets we track against BTZ. Over the last 12 months BTZ came out ahead by 5.1 percentage points (+1.6% against -3.5%).
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.
BTZ vs EVV: side by side
| BTZ (BlackRock Credit Allocation Income Trust) | EVV (Eaton Vance Limited Duration Income Fund) | |
|---|---|---|
| 1-year return | +1.6% | -3.5% |
| 5-year return | +5.4% | +11.4% |
| Volatility (ann.) | 11.5% | 10.2% |
| Beta vs S&P 500 | 0.44 | 0.41 |
| Max drawdown (3Y) | -9.3% | -9.5% |
| Market cap | – | – |
| P/E (trailing) | 9.2 | 14.7 |
| Dividend yield | 0.00% | 9.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTZ | EVV |
|---|---|---|
| 2022 | -27.1% | -19.9% |
| 2023 | +12.8% | +13.3% |
| 2024 | +11.3% | +12.2% |
| 2025 | +13.7% | +10.7% |
| 2026 | +0.1% | -2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTZ and EVV good diversifiers for each other?
Only partially. A correlation of 0.78 means BTZ and EVV 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 BTZ and EVV?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.81 over the last year and 0.70 over 5 years.
Is EVV a good diversifier for BTZ?
Only partially. A correlation of 0.78 means BTZ and EVV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 mean?
On the −1 to +1 scale, 0.78 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/btz-vs-evv.json
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Related comparisons
Hubs: BTZ correlations · EVV correlations
