EVV vs PHK: Correlation
Measured on weekly returns over the past three years, Eaton Vance Limited Duration Income Fund (EVV) and Pimco High Income Fund (PHK) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVV and PHK?
On 3 years of weekly data the EVV/PHK correlation comes out at 0.69, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 82.3 %².
By 3-year correlation, PHK places #10 of the 23 assets tracked against EVV. On 12-month performance PHK holds a 8.1-point edge, -3.5% against +4.6%.
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.
EVV vs PHK: side by side
| EVV (Eaton Vance Limited Duration Income Fund) | PHK (Pimco High Income Fund) | |
|---|---|---|
| 1-year return | -3.5% | +4.6% |
| 5-year return | +11.4% | +18.6% |
| Volatility (ann.) | 10.2% | 11.8% |
| Beta vs S&P 500 | 0.41 | 0.36 |
| Max drawdown (3Y) | -9.5% | -14.5% |
| Market cap | – | – |
| P/E (trailing) | 14.7 | 9.0 |
| Dividend yield | 9.65% | 12.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVV | PHK |
|---|---|---|
| 2022 | -19.9% | -14.4% |
| 2023 | +13.3% | +18.8% |
| 2024 | +12.2% | +9.5% |
| 2025 | +10.7% | +12.6% |
| 2026 | -2.5% | +2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVV and PHK good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EVV and PHK?
The EVV/PHK correlation stands at 0.69 on a 3-year window (1 year: 0.62, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is PHK a good diversifier for EVV?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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.
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Related comparisons
Hubs: EVV correlations · PHK correlations
