AMSC vs UTG: Correlation
Measured on weekly returns over the past three years, American Superconductor Corporation (AMSC) and Reaves Utility Income Fund (UTG) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMSC and UTG?
Across a 3-year window, the weekly returns of AMSC and UTG correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 743.1 %².
By 3-year correlation, UTG places #4 of the 13 assets tracked against AMSC. Correlation aside, the last 12 months split them widely, with UTG ahead by 49.5 points (-42.7% versus +6.8%). One caveat on sizing: AMSC is 4.1 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.
AMSC vs UTG: side by side
| AMSC (American Superconductor Corporation) | UTG (Reaves Utility Income Fund) | |
|---|---|---|
| 1-year return | -42.7% | +6.8% |
| 5-year return | +141.8% | +53.5% |
| Volatility (ann.) | 78.4% | 19.1% |
| Beta vs S&P 500 | 2.16 | 0.67 |
| Max drawdown (3Y) | -61.1% | -14.9% |
| Market cap | $1.4B | $3.5B |
| P/E (trailing) | 9.6 | 2.8 |
| Dividend yield | 0.00% | 6.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMSC | UTG |
|---|---|---|
| 2022 | -66.2% | -13.4% |
| 2023 | +202.7% | +2.8% |
| 2024 | +121.1% | +28.1% |
| 2025 | +16.8% | +23.2% |
| 2026 | +3.7% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMSC and UTG good diversifiers for each other?
Only partially. A correlation of 0.50 means AMSC and UTG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AMSC and UTG?
The AMSC/UTG correlation stands at 0.50 on a 3-year window (1 year: 0.57, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is UTG a good diversifier for AMSC?
Only partially. A correlation of 0.50 means AMSC and UTG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 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/amsc-vs-utg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amsc-vs-utg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMSC correlations · UTG correlations
