GDV vs MCN: Correlation
Measured on weekly returns over the past three years, Gabelli Dividend & Income Trust (GDV) and XAI Madison Equity Premium Income Fund (MCN) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDV and MCN?
Across a 3-year window, the weekly returns of GDV and MCN correlate at 0.58, moderate. The past 12 months show a tighter link (0.68) than the 3-year average (0.58). Stretching to 5 years gives 0.61, with an annualized covariance of 122.0 %².
By 3-year correlation, MCN places #46 of the 71 assets tracked against GDV. The last year tells two different stories: GDV led by 18.5 percentage points, +20.3% for GDV against +1.8% for MCN.
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 MCN: side by side
| GDV (Gabelli Dividend & Income Trust) | MCN (XAI Madison Equity Premium Income Fund) | |
|---|---|---|
| 1-year return | +20.3% | +1.8% |
| 5-year return | +53.8% | +17.0% |
| Volatility (ann.) | 15.0% | 13.9% |
| Beta vs S&P 500 | 0.90 | 0.46 |
| Max drawdown (3Y) | -16.1% | -24.5% |
| Market cap | $2.7B | $0.1B |
| P/E (trailing) | 6.3 | 18.2 |
| Dividend yield | 5.51% | 12.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GDV | MCN |
|---|---|---|
| 2022 | -18.6% | +6.3% |
| 2023 | +11.9% | +7.0% |
| 2024 | +18.1% | -1.5% |
| 2025 | +22.8% | +0.7% |
| 2026 | +13.8% | +2.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDV and MCN good diversifiers for each other?
To a limited degree. At 0.58 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 GDV and MCN?
As of 2026-08-27, the correlation of weekly returns between GDV and MCN is 0.58 over 3 years, 0.68 over 1 year and 0.61 over 5 years.
Is MCN a good diversifier for GDV?
To a limited degree. At 0.58 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 0.58 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/gdv-vs-mcn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gdv-vs-mcn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GDV correlations · MCN correlations
