EVT vs GCV: Correlation
How closely do Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Gabelli Convertible and Income Securities Fund, Inc. (The) (GCV) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and GCV?
Across a 3-year window, the weekly returns of EVT and GCV correlate at 0.62, strong. Recent behaviour matches the longer record: 0.57 over 1 year against 0.62 over 3. Stretching to 5 years gives 0.48, with an annualized covariance of 148.4 %².
Within EVT's tracked universe of 52 assets, GCV comes in at #22 by 3-year correlation. Their 12-month results are close: +28.8% for EVT against +26.7% for GCV.
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 GCV: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | GCV (Gabelli Convertible and Income Securities Fund, Inc. (The)) | |
|---|---|---|
| 1-year return | +28.8% | +26.7% |
| 5-year return | +51.3% | +23.7% |
| Volatility (ann.) | 15.3% | 15.8% |
| Beta vs S&P 500 | 0.85 | 0.57 |
| Max drawdown (3Y) | -18.7% | -18.3% |
| Market cap | $2.2B | $0.1B |
| P/E (trailing) | 4.5 | 4.5 |
| Dividend yield | 6.80% | 10.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVT | GCV |
|---|---|---|
| 2022 | -17.3% | -23.9% |
| 2023 | +5.8% | -15.6% |
| 2024 | +17.4% | +19.9% |
| 2025 | +13.8% | +22.9% |
| 2026 | +20.8% | +16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and GCV good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EVT and GCV?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.57 over the last year and 0.48 over 5 years.
Is GCV a good diversifier for EVT?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 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/evt-vs-gcv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/evt-vs-gcv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVT correlations · GCV correlations
