EVT vs WAB: Correlation
How closely do Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and Wabtec (WAB) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and WAB?
Over the past 3 years, EVT and WAB moved with a correlation of 0.60, which is strong. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.60). Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 230.9 %².
Within EVT's tracked universe of 52 assets, WAB comes in at #26 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WAB ahead by 24.1 points (+28.8% versus +52.9%). Note the risk asymmetry: WAB runs 1.7 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 WAB: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | +28.8% | +52.9% |
| 5-year return | +51.3% | +241.0% |
| Volatility (ann.) | 15.3% | 25.3% |
| Beta vs S&P 500 | 0.85 | 0.99 |
| Max drawdown (3Y) | -18.7% | -23.6% |
| Market cap | $2.2B | $50.2B |
| P/E (trailing) | 4.5 | 40.5 |
| Dividend yield | 6.80% | 0.37% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | EVT | WAB |
|---|---|---|
| 2022 | -17.3% | +9.1% |
| 2023 | +5.8% | +28.0% |
| 2024 | +17.4% | +50.1% |
| 2025 | +13.8% | +13.2% |
| 2026 | +20.8% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and WAB good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EVT and WAB?
As of 2026-08-27, the correlation of weekly returns between EVT and WAB is 0.60 over 3 years, 0.37 over 1 year and 0.63 over 5 years.
Is WAB a good diversifier for EVT?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/evt-vs-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evt-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EVT correlations · WAB correlations
