EVT vs KEN: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Kenon Holdings Ltd. (KEN) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and KEN?
Across a 3-year window, the weekly returns of EVT and KEN correlate at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.23) runs below the 3-year figure (0.36). Stretching to 5 years gives 0.36, with an annualized covariance of 205.7 %².
Among the 52 assets we track against EVT, KEN sits near the bottom by co-movement, at rank #49. Their recent paths diverged sharply: over the last 12 months KEN outperformed by 30.2 percentage points (+28.8% for EVT against +59.0% for KEN). Note the risk asymmetry: KEN runs 2.5 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 KEN: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | KEN (Kenon Holdings Ltd.) | |
|---|---|---|
| 1-year return | +28.8% | +59.0% |
| 5-year return | +51.3% | +294.3% |
| Volatility (ann.) | 15.3% | 37.7% |
| Beta vs S&P 500 | 0.85 | 0.72 |
| Max drawdown (3Y) | -18.7% | -33.2% |
| Market cap | $2.2B | – |
| P/E (trailing) | 4.5 | 43.0 |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVT | KEN |
|---|---|---|
| 2022 | -17.3% | -11.7% |
| 2023 | +5.8% | -18.2% |
| 2024 | +17.4% | +67.6% |
| 2025 | +13.8% | +126.2% |
| 2026 | +20.8% | +8.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and KEN good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EVT and KEN?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.23 over the last year and 0.36 over 5 years.
Is KEN a good diversifier for EVT?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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-ken.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evt-vs-ken/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVT correlations · KEN correlations
