ADAG vs GUT: Correlation
How closely do Adagene Inc. (ADAG) and Gabelli Utility Trust (The) (GUT) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADAG and GUT?
Across a 3-year window, the weekly returns of ADAG and GUT correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.24 over 3 years. Stretching to 5 years gives -0.11, with an annualized covariance of -478.3 %².
Out of 15 assets tracked against ADAG, GUT lands near the bottom at #15. Their recent paths diverged sharply: over the last 12 months ADAG outperformed by 59.6 percentage points (+78.1% for ADAG against +18.5% for GUT). One caveat on sizing: ADAG is 4.3 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.
ADAG vs GUT: side by side
| ADAG (Adagene Inc.) | GUT (Gabelli Utility Trust (The)) | |
|---|---|---|
| 1-year return | +78.1% | +18.5% |
| 5-year return | -76.8% | +29.5% |
| Volatility (ann.) | 93.1% | 21.5% |
| Beta vs S&P 500 | 0.48 | 0.37 |
| Max drawdown (3Y) | -66.5% | -28.7% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | 11.9 |
| Dividend yield | 0.00% | 9.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADAG | GUT |
|---|---|---|
| 2022 | -83.6% | -1.1% |
| 2023 | +45.7% | -21.1% |
| 2024 | +3.1% | +6.0% |
| 2025 | -5.0% | +33.1% |
| 2026 | +106.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADAG and GUT good diversifiers for each other?
Yes. With a correlation of -0.24, ADAG and GUT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ADAG and GUT?
The ADAG/GUT correlation stands at -0.24 on a 3-year window (1 year: -0.06, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is GUT a good diversifier for ADAG?
Yes. With a correlation of -0.24, ADAG and GUT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ADAG correlations · GUT correlations
