EVV vs PIM: Correlation
How closely do Eaton Vance Limited Duration Income Fund (EVV) and Franklin Master Intermediate Income Trust Shares of (PIM) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVV and PIM?
Across a 3-year window, the weekly returns of EVV and PIM correlate at 0.62, strong. Lately the two have drifted apart, with the 1-year correlation at 0.51 versus 0.62 over 3 years. Stretching to 5 years gives 0.58, with an annualized covariance of 58.2 %².
Among the 23 assets we track against EVV, PIM ranks #14 by 3-year correlation. On 12-month performance PIM holds a 6.7-point edge, -3.5% against +3.2%.
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 PIM: side by side
| EVV (Eaton Vance Limited Duration Income Fund) | PIM (Franklin Master Intermediate Income Trust Shares of) | |
|---|---|---|
| 1-year return | -3.5% | +3.2% |
| 5-year return | +11.4% | +16.1% |
| Volatility (ann.) | 10.2% | 9.2% |
| Beta vs S&P 500 | 0.41 | 0.26 |
| Max drawdown (3Y) | -9.5% | -6.4% |
| Market cap | – | $0.2B |
| P/E (trailing) | 14.7 | 14.4 |
| Dividend yield | 9.65% | 8.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVV | PIM |
|---|---|---|
| 2022 | -19.9% | -12.5% |
| 2023 | +13.3% | +8.4% |
| 2024 | +12.2% | +10.9% |
| 2025 | +10.7% | +10.9% |
| 2026 | -2.5% | +0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVV and PIM good diversifiers for each other?
To a limited degree. At 0.62 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 EVV and PIM?
The EVV/PIM correlation stands at 0.62 on a 3-year window (1 year: 0.51, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is PIM a good diversifier for EVV?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 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 · PIM correlations
