EVT vs MTD: Correlation
How closely do Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Mettler Toledo (MTD) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and MTD?
Over the past 3 years, EVT and MTD moved with a correlation of 0.55, which is moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 266.0 %².
Among the 52 assets we track against EVT, MTD ranks #33 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EVT outperformed by 19.3 percentage points (+28.8% for EVT against +9.5% for MTD). One caveat on sizing: MTD is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 MTD: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | MTD (Mettler Toledo) | |
|---|---|---|
| 1-year return | +28.8% | +9.5% |
| 5-year return | +51.3% | -11.4% |
| Volatility (ann.) | 15.3% | 31.4% |
| Beta vs S&P 500 | 0.85 | 1.00 |
| Max drawdown (3Y) | -18.7% | -36.6% |
| Market cap | $2.2B | $28.2B |
| P/E (trailing) | 4.5 | 31.7 |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | EVT | MTD |
|---|---|---|
| 2022 | -17.3% | -14.8% |
| 2023 | +5.8% | -16.1% |
| 2024 | +17.4% | +0.9% |
| 2025 | +13.8% | +13.9% |
| 2026 | +20.8% | +0.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and MTD good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between EVT and MTD?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.47 over the last year and 0.60 over 5 years.
Is MTD a good diversifier for EVT?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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-mtd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/evt-vs-mtd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVT correlations · MTD correlations
