ERC vs EVV: Correlation
Measured on weekly returns over the past three years, Allspring Multi-Sector Income Fund (ERC) and Eaton Vance Limited Duration Income Fund (EVV) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERC and EVV?
Over the past 3 years, ERC and EVV moved with a correlation of 0.76, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.64 versus 0.76 over 3 years. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 78.7 %².
Few assets follow ERC as closely as EVV, which ranks #2 of 22 tracked partners. Over the last 12 months ERC came out ahead by 10.2 percentage points (+6.7% 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.
ERC vs EVV: side by side
| ERC (Allspring Multi-Sector Income Fund) | EVV (Eaton Vance Limited Duration Income Fund) | |
|---|---|---|
| 1-year return | +6.7% | -3.5% |
| 5-year return | +11.4% | +11.4% |
| Volatility (ann.) | 10.1% | 10.2% |
| Beta vs S&P 500 | 0.41 | 0.41 |
| Max drawdown (3Y) | -9.8% | -9.5% |
| Market cap | $0.3B | – |
| P/E (trailing) | 9.7 | 14.7 |
| Dividend yield | 9.33% | 9.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERC | EVV |
|---|---|---|
| 2022 | -17.8% | -19.9% |
| 2023 | +4.9% | +13.3% |
| 2024 | +6.1% | +12.2% |
| 2025 | +11.1% | +10.7% |
| 2026 | +5.8% | -2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERC and EVV 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 ERC and EVV?
As of 2026-08-27, the correlation of weekly returns between ERC and EVV is 0.76 over 3 years, 0.64 over 1 year and 0.71 over 5 years.
Is EVV a good diversifier for ERC?
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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/erc-vs-evv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/erc-vs-evv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ERC correlations · EVV correlations
