EVT vs GDV: Correlation
How closely do Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Gabelli Dividend & Income Trust (GDV) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and GDV?
Over the past 3 years, EVT and GDV moved with a correlation of 0.89, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.89 over 3. Over 5 years the correlation is 0.89, and the annualized covariance of weekly returns is 205.3 %².
Few assets follow EVT as closely as GDV, which ranks #2 of 52 tracked partners. Over the last 12 months EVT came out ahead by 8.5 percentage points (+28.8% against +20.3%).
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.
EVT vs GDV: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | GDV (Gabelli Dividend & Income Trust) | |
|---|---|---|
| 1-year return | +28.8% | +20.3% |
| 5-year return | +51.3% | +53.8% |
| Volatility (ann.) | 15.3% | 15.0% |
| Beta vs S&P 500 | 0.85 | 0.90 |
| Max drawdown (3Y) | -18.7% | -16.1% |
| Market cap | $2.2B | $2.7B |
| P/E (trailing) | 4.5 | 6.3 |
| Dividend yield | 6.80% | 5.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVT | GDV |
|---|---|---|
| 2022 | -17.3% | -18.6% |
| 2023 | +5.8% | +11.9% |
| 2024 | +17.4% | +18.1% |
| 2025 | +13.8% | +22.8% |
| 2026 | +20.8% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and GDV good diversifiers for each other?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between EVT and GDV?
As of 2026-08-27, the correlation of weekly returns between EVT and GDV is 0.89 over 3 years, 0.83 over 1 year and 0.89 over 5 years.
Is GDV a good diversifier for EVT?
Not really. At 0.89, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.89 mean?
On the −1 to +1 scale, 0.89 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/evt-vs-gdv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evt-vs-gdv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVT correlations · GDV correlations
