AES vs ERH: Correlation
Measured on weekly returns over the past three years, AES Corporation (AES) and Allspring Utilities and High Income Fund (ERH) 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 AES and ERH?
Over the past 3 years, AES and ERH moved with a correlation of 0.51, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.40 versus 0.51 over 3 years. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 310.0 %².
Within AES's tracked universe of 31 assets, ERH comes in at #6 by 3-year correlation. On 12-month performance AES holds a 12.7-point edge, +15.9% against +3.2%. Note the risk asymmetry: AES runs 2.7 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.
AES vs ERH: side by side
| AES (AES Corporation) | ERH (Allspring Utilities and High Income Fund) | |
|---|---|---|
| 1-year return | +15.9% | +3.2% |
| 5-year return | -25.1% | +17.1% |
| Volatility (ann.) | 40.5% | 14.9% |
| Beta vs S&P 500 | 0.86 | 0.33 |
| Max drawdown (3Y) | -53.3% | -16.2% |
| Market cap | $10.5B | – |
| P/E (trailing) | 5.5 | 4.6 |
| Dividend yield | 4.78% | 8.46% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AES | ERH |
|---|---|---|
| 2022 | +21.7% | -18.4% |
| 2023 | -30.9% | -10.5% |
| 2024 | -30.4% | +25.7% |
| 2025 | +18.3% | +19.8% |
| 2026 | +6.6% | +2.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AES and ERH 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 AES and ERH?
As of 2026-08-27, the correlation of weekly returns between AES and ERH is 0.51 over 3 years, 0.40 over 1 year and 0.53 over 5 years.
Is ERH a good diversifier for AES?
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?
A reading of 0.51 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/aes-vs-erh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aes-vs-erh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AES correlations · ERH correlations
