GDV vs GIL: Correlation
Measured on weekly returns over the past three years, Gabelli Dividend & Income Trust (GDV) and Gildan Activewear, Inc. Class A Sub. Vot. (GIL) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDV and GIL?
Over the past 3 years, GDV and GIL moved with a correlation of 0.53, which is moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 252.9 %².
Within GDV's tracked universe of 71 assets, GIL comes in at #54 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GDV outperformed by 22.9 percentage points (+20.3% for GDV against -2.6% for GIL). Note the risk asymmetry: GIL runs 2.1 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.
GDV vs GIL: side by side
| GDV (Gabelli Dividend & Income Trust) | GIL (Gildan Activewear, Inc. Class A Sub. Vot.) | |
|---|---|---|
| 1-year return | +20.3% | -2.6% |
| 5-year return | +53.8% | +52.0% |
| Volatility (ann.) | 15.0% | 31.8% |
| Beta vs S&P 500 | 0.90 | 1.02 |
| Max drawdown (3Y) | -16.1% | -31.3% |
| Market cap | $2.7B | $9.9B |
| P/E (trailing) | 6.3 | 41.6 |
| Dividend yield | 5.51% | 1.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GDV | GIL |
|---|---|---|
| 2022 | -18.6% | -33.9% |
| 2023 | +11.9% | +23.6% |
| 2024 | +18.1% | +45.3% |
| 2025 | +22.8% | +34.5% |
| 2026 | +13.8% | -13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDV and GIL good diversifiers for each other?
Only partially. A correlation of 0.53 means GDV and GIL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GDV and GIL?
The GDV/GIL correlation stands at 0.53 on a 3-year window (1 year: 0.48, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is GIL a good diversifier for GDV?
Only partially. A correlation of 0.53 means GDV and GIL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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: GDV correlations · GIL correlations
