DHF vs EVT: Correlation
BNY Mellon High Yield Strategies Fund (DHF) and Eaton Vance Tax Advantaged Dividend Income Fund (EVT) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHF and EVT?
Across a 3-year window, the weekly returns of DHF and EVT correlate at 0.71, strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Stretching to 5 years gives 0.70, with an annualized covariance of 124.6 %².
In DHF's tracked universe of 15 assets, EVT sits right near the top at #3. Correlation aside, the last 12 months split them widely, with EVT ahead by 29.4 points (-0.6% versus +28.8%).
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.
DHF vs EVT: side by side
| DHF (BNY Mellon High Yield Strategies Fund) | EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | |
|---|---|---|
| 1-year return | -0.6% | +28.8% |
| 5-year return | +7.9% | +51.3% |
| Volatility (ann.) | 11.4% | 15.3% |
| Beta vs S&P 500 | 0.52 | 0.85 |
| Max drawdown (3Y) | -11.8% | -18.7% |
| Market cap | $0.2B | $2.2B |
| P/E (trailing) | 13.8 | 4.5 |
| Dividend yield | 8.90% | 6.80% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DHF | EVT |
|---|---|---|
| 2022 | -22.5% | -17.3% |
| 2023 | +15.0% | +5.8% |
| 2024 | +21.4% | +17.4% |
| 2025 | +5.9% | +13.8% |
| 2026 | -0.2% | +20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHF and EVT good diversifiers for each other?
Only partially. A correlation of 0.71 means DHF and EVT 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 DHF and EVT?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.68 over the last year and 0.70 over 5 years.
Is EVT a good diversifier for DHF?
Only partially. A correlation of 0.71 means DHF and EVT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
A reading of 0.71 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dhf-vs-evt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dhf-vs-evt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DHF correlations · EVT correlations
