EVT vs HRMY: Correlation
How closely do Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Harmony Biosciences Holdings, Inc. (HRMY) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and HRMY?
Across a 3-year window, the weekly returns of EVT and HRMY correlate at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.49). Stretching to 5 years gives 0.35, with an annualized covariance of 370.9 %².
Within EVT's tracked universe of 52 assets, HRMY comes in at #39 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EVT outperformed by 24.0 percentage points (+28.8% for EVT against +4.8% for HRMY). Risk is not evenly split, since HRMY carries 3.2 times the volatility of the other side.
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 HRMY: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | HRMY (Harmony Biosciences Holdings, Inc.) | |
|---|---|---|
| 1-year return | +28.8% | +4.8% |
| 5-year return | +51.3% | +7.6% |
| Volatility (ann.) | 15.3% | 49.1% |
| Beta vs S&P 500 | 0.85 | 1.31 |
| Max drawdown (3Y) | -18.7% | -50.8% |
| Market cap | $2.2B | $2.3B |
| P/E (trailing) | 4.5 | 12.8 |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVT | HRMY |
|---|---|---|
| 2022 | -17.3% | +29.2% |
| 2023 | +5.8% | -41.4% |
| 2024 | +17.4% | +6.5% |
| 2025 | +13.8% | +8.7% |
| 2026 | +20.8% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and HRMY good diversifiers for each other?
Reasonably. At 0.49, EVT and HRMY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EVT and HRMY?
As of 2026-08-27, the correlation of weekly returns between EVT and HRMY is 0.49 over 3 years, 0.26 over 1 year and 0.35 over 5 years.
Is HRMY a good diversifier for EVT?
Reasonably. At 0.49, EVT and HRMY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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-hrmy.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/evt-vs-hrmy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EVT correlations · HRMY correlations
