EVT vs GEHC: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and GE HealthCare (GEHC) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and GEHC?
On 3 years of weekly data the EVT/GEHC correlation comes out at 0.61, strong. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.61 over 3 years. The 5-year figure is 0.58, and annualized covariance runs at 304.5 %².
Within EVT's tracked universe of 52 assets, GEHC comes in at #24 by 3-year correlation. The last year tells two different stories: EVT led by 31.0 percentage points, +28.8% for EVT against -2.2% for GEHC. Note the risk asymmetry: GEHC runs 2.1 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 GEHC: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | GEHC (GE HealthCare) | |
|---|---|---|
| 1-year return | +28.8% | -2.2% |
| 5-year return | +51.3% | n/a |
| Volatility (ann.) | 15.3% | 32.4% |
| Beta vs S&P 500 | 0.85 | 1.22 |
| Max drawdown (3Y) | -18.7% | -37.4% |
| Market cap | $2.2B | $32.7B |
| P/E (trailing) | 4.5 | 16.9 |
| Dividend yield | 6.80% | 0.19% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | EVT | GEHC |
|---|---|---|
| 2022 | -17.3% | – |
| 2023 | +5.8% | +32.6% |
| 2024 | +17.4% | +1.3% |
| 2025 | +13.8% | +5.1% |
| 2026 | +20.8% | -11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and GEHC good diversifiers for each other?
Only partially. A correlation of 0.61 means EVT and GEHC 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 EVT and GEHC?
As of 2026-08-27, the correlation of weekly returns between EVT and GEHC is 0.61 over 3 years, 0.46 over 1 year and 0.58 over 5 years.
Is GEHC a good diversifier for EVT?
Only partially. A correlation of 0.61 means EVT and GEHC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 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-gehc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evt-vs-gehc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVT correlations · GEHC correlations
