EVV vs RNW: Correlation
Measured on weekly returns over the past three years, Eaton Vance Limited Duration Income Fund (EVV) and ReNew Energy Global plc - Class A Shares (RNW) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVV and RNW?
On 3 years of weekly data the EVV/RNW correlation comes out at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. The 5-year figure is 0.37, and annualized covariance runs at 143.2 %².
Among the 23 assets we track against EVV, RNW sits near the bottom by co-movement, at rank #20. Over the last 12 months EVV came out ahead by 8.0 percentage points (-3.5% against -11.5%). Risk is not evenly split, since RNW carries 3.5 times the volatility of the other side.
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 RNW: side by side
| EVV (Eaton Vance Limited Duration Income Fund) | RNW (ReNew Energy Global plc - Class A Shares) | |
|---|---|---|
| 1-year return | -3.5% | -11.5% |
| 5-year return | +11.4% | -26.6% |
| Volatility (ann.) | 10.2% | 35.5% |
| Beta vs S&P 500 | 0.41 | 0.53 |
| Max drawdown (3Y) | -9.5% | -45.1% |
| Market cap | – | $2.5B |
| P/E (trailing) | 14.7 | 22.0 |
| Dividend yield | 9.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVV | RNW |
|---|---|---|
| 2022 | -19.9% | -29.3% |
| 2023 | +13.3% | +39.3% |
| 2024 | +12.2% | -10.8% |
| 2025 | +10.7% | -17.3% |
| 2026 | -2.5% | +20.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVV and RNW good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EVV and RNW?
As of 2026-08-27, the correlation of weekly returns between EVV and RNW is 0.39 over 3 years, 0.37 over 1 year and 0.37 over 5 years.
Is RNW a good diversifier for EVV?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 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/evv-vs-rnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evv-vs-rnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVV correlations · RNW correlations
