CPAY vs EVT: Correlation
How closely do Corpay (CPAY) and Eaton Vance Tax Advantaged Dividend Income Fund (EVT) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPAY and EVT?
On 3 years of weekly data the CPAY/EVT correlation comes out at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.63 over 3 years. The 5-year figure is 0.61, and annualized covariance runs at 303.5 %².
By 3-year correlation, EVT places #10 of the 32 assets tracked against CPAY. Their 12-month results are close: +24.1% for CPAY against +28.8% for EVT. Risk is not evenly split, since CPAY carries 2.1 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.
CPAY vs EVT: side by side
| CPAY (Corpay) | EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | |
|---|---|---|
| 1-year return | +24.1% | +28.8% |
| 5-year return | +55.2% | +51.3% |
| Volatility (ann.) | 31.7% | 15.3% |
| Beta vs S&P 500 | 1.22 | 0.85 |
| Max drawdown (3Y) | -34.5% | -18.7% |
| Market cap | $26.5B | $2.2B |
| P/E (trailing) | 24.7 | 4.5 |
| Dividend yield | 0.00% | 6.80% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CPAY | EVT |
|---|---|---|
| 2022 | -17.9% | -17.3% |
| 2023 | +53.9% | +5.8% |
| 2024 | +19.7% | +17.4% |
| 2025 | -11.1% | +13.8% |
| 2026 | +34.1% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPAY and EVT good diversifiers for each other?
To a limited degree. At 0.63 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 CPAY and EVT?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.42 over the last year and 0.61 over 5 years.
Is EVT a good diversifier for CPAY?
To a limited degree. At 0.63 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 0.63 mean?
On the −1 to +1 scale, 0.63 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/cpay-vs-evt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cpay-vs-evt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CPAY correlations · EVT correlations
