EVT vs FDX: Correlation
Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and FedEx (FDX) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and FDX?
On 3 years of weekly data the EVT/FDX correlation comes out at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 244.0 %².
Among the 52 assets we track against EVT, FDX ranks #36 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FDX ahead by 51.8 points (+28.8% versus +80.6%). Note the risk asymmetry: FDX runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EVT vs FDX: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | FDX (FedEx) | |
|---|---|---|
| 1-year return | +28.8% | +80.6% |
| 5-year return | +51.3% | +71.0% |
| Volatility (ann.) | 15.3% | 30.7% |
| Beta vs S&P 500 | 0.85 | 0.89 |
| Max drawdown (3Y) | -18.7% | -35.9% |
| Market cap | $2.2B | $78.4B |
| P/E (trailing) | 4.5 | 18.1 |
| Dividend yield | 6.80% | 1.66% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | EVT | FDX |
|---|---|---|
| 2022 | -17.3% | -31.6% |
| 2023 | +5.8% | +49.1% |
| 2024 | +17.4% | +13.5% |
| 2025 | +13.8% | +5.1% |
| 2026 | +20.8% | +43.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and FDX good diversifiers for each other?
To a limited degree. At 0.52 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 EVT and FDX?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.48 over the last year and 0.45 over 5 years.
Is FDX a good diversifier for EVT?
To a limited degree. At 0.52 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 0.52 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/evt-vs-fdx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evt-vs-fdx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EVT correlations · FDX correlations
