GDV vs VREX: Correlation
Measured on weekly returns over the past three years, Gabelli Dividend & Income Trust (GDV) and Varex Imaging Corporation (VREX) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDV and VREX?
On 3 years of weekly data the GDV/VREX correlation comes out at 0.51, moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.51 over 3. The 5-year figure is 0.39, and annualized covariance runs at 450.4 %².
By 3-year correlation, VREX places #55 of the 71 assets tracked against GDV. Correlation aside, the last 12 months split them widely, with VREX ahead by 41.2 points (+20.3% versus +61.5%). Risk is not evenly split, since VREX carries 3.9 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.
GDV vs VREX: side by side
| GDV (Gabelli Dividend & Income Trust) | VREX (Varex Imaging Corporation) | |
|---|---|---|
| 1-year return | +20.3% | +61.5% |
| 5-year return | +53.8% | -36.0% |
| Volatility (ann.) | 15.0% | 58.7% |
| Beta vs S&P 500 | 0.90 | 1.91 |
| Max drawdown (3Y) | -16.1% | -67.8% |
| Market cap | $2.7B | $0.8B |
| P/E (trailing) | 6.3 | 34.9 |
| Dividend yield | 5.51% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GDV | VREX |
|---|---|---|
| 2022 | -18.6% | -35.7% |
| 2023 | +11.9% | +1.0% |
| 2024 | +18.1% | -28.8% |
| 2025 | +22.8% | -20.2% |
| 2026 | +13.8% | +58.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDV and VREX good diversifiers for each other?
To a limited degree. At 0.51 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 VREX?
As of 2026-08-27, the correlation of weekly returns between GDV and VREX is 0.51 over 3 years, 0.46 over 1 year and 0.39 over 5 years.
Is VREX a good diversifier for GDV?
To a limited degree. At 0.51 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 0.51 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-vrex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gdv-vs-vrex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GDV correlations · VREX correlations
