EVG vs VLT: Correlation
Eaton Vance Short Diversified Income Fund Eaton Vance Short (EVG) and Invesco High Income Trust II (VLT) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVG and VLT?
On 3 years of weekly data the EVG/VLT correlation comes out at 0.62, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. The 5-year figure is 0.58, and annualized covariance runs at 51.9 %².
Within EVG's tracked universe of 11 assets, VLT comes in at #5 by 3-year correlation. Neither side won the trailing year by much: +2.3% against -1.3%.
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.
EVG vs VLT: side by side
| EVG (Eaton Vance Short Diversified Income Fund Eaton Vance Short) | VLT (Invesco High Income Trust II) | |
|---|---|---|
| 1-year return | +2.3% | -1.3% |
| 5-year return | +24.1% | +12.4% |
| Volatility (ann.) | 8.4% | 10.0% |
| Beta vs S&P 500 | 0.27 | 0.47 |
| Max drawdown (3Y) | -8.2% | -13.4% |
| Market cap | – | – |
| P/E (trailing) | 10.2 | 13.9 |
| Dividend yield | 8.42% | 11.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVG | VLT |
|---|---|---|
| 2022 | -14.1% | -20.9% |
| 2023 | +11.9% | +13.1% |
| 2024 | +14.8% | +17.3% |
| 2025 | +8.4% | +13.2% |
| 2026 | +2.7% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVG and VLT good diversifiers for each other?
Only partially. A correlation of 0.62 means EVG and VLT 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 EVG and VLT?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.69 over the last year and 0.58 over 5 years.
Is VLT a good diversifier for EVG?
Only partially. A correlation of 0.62 means EVG and VLT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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/evg-vs-vlt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/evg-vs-vlt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EVG correlations · VLT correlations
