CEV vs MKDW: Correlation
How closely do Eaton Vance California Municipal Income Trust Shares of (CEV) and MKDWELL Tech Inc. (MKDW) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CEV and MKDW?
Over the past 3 years, CEV and MKDW moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -388.0 %².
Out of 12 assets tracked against CEV, MKDW lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months MKDW outperformed by 64.1 percentage points (+19.0% for CEV against +83.1% for MKDW). Risk is not evenly split, since MKDW carries 12.0 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.
CEV vs MKDW: side by side
| CEV (Eaton Vance California Municipal Income Trust Shares of) | MKDW (MKDWELL Tech Inc.) | |
|---|---|---|
| 1-year return | +19.0% | +83.1% |
| 5-year return | -1.8% | n/a |
| Volatility (ann.) | 10.9% | 130.7% |
| Beta vs S&P 500 | 0.23 | 1.90 |
| Max drawdown (3Y) | -12.4% | -99.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | 10.2 | – |
| Dividend yield | 5.54% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CEV | MKDW |
|---|---|---|
| 2022 | -22.7% | – |
| 2023 | +8.2% | – |
| 2024 | +2.3% | -91.3% |
| 2025 | +6.2% | -82.6% |
| 2026 | +10.2% | +138.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CEV and MKDW good diversifiers for each other?
Yes. With a correlation of -0.27, CEV and MKDW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CEV and MKDW?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.31 over the last year and n/a over 5 years.
Is MKDW a good diversifier for CEV?
Yes. With a correlation of -0.27, CEV and MKDW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/cev-vs-mkdw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cev-vs-mkdw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CEV correlations · MKDW correlations
