AEP vs ERH: Correlation
How closely do American Electric Power (AEP) and Allspring Utilities and High Income Fund (ERH) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEP and ERH?
On 3 years of weekly data the AEP/ERH correlation comes out at 0.70, strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.70 over 3. The 5-year figure is 0.70, and annualized covariance runs at 196.7 %².
Within AEP's tracked universe of 36 assets, ERH comes in at #14 by 3-year correlation. On 12-month performance AEP holds a 8.9-point edge, +12.1% against +3.2%.
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.
AEP vs ERH: side by side
| AEP (American Electric Power) | ERH (Allspring Utilities and High Income Fund) | |
|---|---|---|
| 1-year return | +12.1% | +3.2% |
| 5-year return | +63.9% | +17.1% |
| Volatility (ann.) | 18.9% | 14.9% |
| Beta vs S&P 500 | -0.01 | 0.33 |
| Max drawdown (3Y) | -13.1% | -16.2% |
| Market cap | $66.8B | – |
| P/E (trailing) | 21.4 | 4.6 |
| Dividend yield | 3.06% | 8.46% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AEP | ERH |
|---|---|---|
| 2022 | +10.4% | -18.4% |
| 2023 | -11.0% | -10.5% |
| 2024 | +18.2% | +25.7% |
| 2025 | +29.4% | +19.8% |
| 2026 | +8.9% | +2.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEP and ERH good diversifiers for each other?
To a limited degree. At 0.70 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 AEP and ERH?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.71 over the last year and 0.70 over 5 years.
Is ERH a good diversifier for AEP?
To a limited degree. At 0.70 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 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aep-vs-erh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aep-vs-erh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AEP correlations · ERH correlations
