EXG vs GILT: Correlation
How closely do Eaton Vance Tax-Managed Global Diversified Equity Income (EXG) and Gilat Satellite Networks Ltd. (GILT) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXG and GILT?
Across a 3-year window, the weekly returns of EXG and GILT correlate at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 368.4 %².
By 3-year correlation, GILT places #25 of the 32 assets tracked against EXG. Correlation aside, the last 12 months split them widely, with EXG ahead by 16.5 points (+22.0% versus +5.5%). One caveat on sizing: GILT is 3.4 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.
EXG vs GILT: side by side
| EXG (Eaton Vance Tax-Managed Global Diversified Equity Income) | GILT (Gilat Satellite Networks Ltd.) | |
|---|---|---|
| 1-year return | +22.0% | +5.5% |
| 5-year return | +45.8% | +4.3% |
| Volatility (ann.) | 15.0% | 50.6% |
| Beta vs S&P 500 | 0.91 | 1.53 |
| Max drawdown (3Y) | -15.1% | -52.3% |
| Market cap | – | $0.8B |
| P/E (trailing) | 4.5 | 23.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXG | GILT |
|---|---|---|
| 2022 | -22.2% | -18.0% |
| 2023 | +11.4% | +5.3% |
| 2024 | +16.1% | +0.7% |
| 2025 | +27.8% | +110.4% |
| 2026 | +10.7% | -19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXG and GILT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EXG and GILT?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.50 over the last year and 0.41 over 5 years.
Is GILT a good diversifier for EXG?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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.
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Related comparisons
Hubs: EXG correlations · GILT correlations
