EVT vs GGT: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Gabelli Multi-Media Trust, Inc. (The) (GGT) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and GGT?
Over the past 3 years, EVT and GGT moved with a correlation of 0.44, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.32 versus 0.44 over 3 years. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 143.6 %².
Out of 52 assets tracked against EVT, GGT lands near the bottom at #48. Over the last 12 months EVT came out ahead by 9.2 percentage points (+28.8% against +19.6%).
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 GGT: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | GGT (Gabelli Multi-Media Trust, Inc. (The)) | |
|---|---|---|
| 1-year return | +28.8% | +19.6% |
| 5-year return | +51.3% | -2.3% |
| Volatility (ann.) | 15.3% | 21.6% |
| Beta vs S&P 500 | 0.85 | 0.52 |
| Max drawdown (3Y) | -18.7% | -31.7% |
| Market cap | $2.2B | $0.2B |
| P/E (trailing) | 4.5 | 3.3 |
| Dividend yield | 6.80% | 21.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVT | GGT |
|---|---|---|
| 2022 | -17.3% | -30.8% |
| 2023 | +5.8% | +22.5% |
| 2024 | +17.4% | -6.0% |
| 2025 | +13.8% | +15.4% |
| 2026 | +20.8% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and GGT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EVT and GGT?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.32 over the last year and 0.53 over 5 years.
Is GGT a good diversifier for EVT?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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-ggt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evt-vs-ggt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EVT correlations · GGT correlations
