GDV vs TXT: Correlation
Gabelli Dividend & Income Trust (GDV) and Textron (TXT) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDV and TXT?
On 3 years of weekly data the GDV/TXT correlation comes out at 0.61, strong. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.61 over 3 years. The 5-year figure is 0.65, and annualized covariance runs at 234.8 %².
Within GDV's tracked universe of 71 assets, TXT comes in at #43 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GDV outperformed by 19.6 percentage points (+20.3% for GDV against +0.7% for TXT). Note the risk asymmetry: TXT runs 1.7 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 TXT: side by side
| GDV (Gabelli Dividend & Income Trust) | TXT (Textron) | |
|---|---|---|
| 1-year return | +20.3% | +0.7% |
| 5-year return | +53.8% | +15.1% |
| Volatility (ann.) | 15.0% | 25.4% |
| Beta vs S&P 500 | 0.90 | 0.89 |
| Max drawdown (3Y) | -16.1% | -37.3% |
| Market cap | $2.7B | $14.2B |
| P/E (trailing) | 6.3 | 15.7 |
| Dividend yield | 5.51% | 0.10% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | GDV | TXT |
|---|---|---|
| 2022 | -18.6% | -8.2% |
| 2023 | +11.9% | +13.7% |
| 2024 | +18.1% | -4.8% |
| 2025 | +22.8% | +14.1% |
| 2026 | +13.8% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDV and TXT good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GDV and TXT?
The GDV/TXT correlation stands at 0.61 on a 3-year window (1 year: 0.46, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is TXT a good diversifier for GDV?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 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-txt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gdv-vs-txt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GDV correlations · TXT correlations
