AMT vs UTF: Correlation
Measured on weekly returns over the past three years, American Tower (AMT) and Cohen & Steers Infrastructure Fund, Inc (UTF) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMT and UTF?
On 3 years of weekly data the AMT/UTF correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 258.1 %².
Among the 30 assets we track against AMT, UTF ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with UTF ahead by 21.5 points (-11.0% versus +10.5%). Note the risk asymmetry: AMT runs 1.6 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.
AMT vs UTF: side by side
| AMT (American Tower) | UTF (Cohen & Steers Infrastructure Fund, Inc) | |
|---|---|---|
| 1-year return | -11.0% | +10.5% |
| 5-year return | -30.2% | +35.3% |
| Volatility (ann.) | 27.1% | 17.3% |
| Beta vs S&P 500 | 0.18 | 0.36 |
| Max drawdown (3Y) | -28.4% | -15.0% |
| Market cap | $81.2B | – |
| P/E (trailing) | 24.2 | 6.9 |
| Dividend yield | 3.97% | 6.81% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | AMT | UTF |
|---|---|---|
| 2022 | -25.7% | -9.7% |
| 2023 | +5.4% | -4.0% |
| 2024 | -12.2% | +22.2% |
| 2025 | -0.9% | +8.0% |
| 2026 | +1.1% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMT and UTF good diversifiers for each other?
Only partially. A correlation of 0.55 means AMT and UTF 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 AMT and UTF?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.49 over the last year and 0.61 over 5 years.
Is UTF a good diversifier for AMT?
Only partially. A correlation of 0.55 means AMT and UTF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 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/amt-vs-utf.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: AMT correlations · UTF correlations
