BGR vs UCIB: Correlation
Measured on weekly returns over the past three years, BlackRock Energy and Resources Trust (BGR) and ETRACS UBS Bloomberg Constant Maturity Commodity Index (UCIB) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGR and UCIB?
On 3 years of weekly data the BGR/UCIB correlation comes out at 0.46, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.36 versus 0.46 over 3 years. The 5-year figure is 0.51, and annualized covariance runs at 159.2 %².
By 3-year correlation, UCIB places #13 of the 19 assets tracked against BGR. Their 12-month results are close: +35.3% for BGR against +38.5% for UCIB.
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.
BGR vs UCIB: side by side
| BGR (BlackRock Energy and Resources Trust) | UCIB (ETRACS UBS Bloomberg Constant Maturity Commodity Index) | |
|---|---|---|
| 1-year return | +35.3% | +38.5% |
| 5-year return | +165.0% | +88.1% |
| Volatility (ann.) | 19.7% | 17.7% |
| Beta vs S&P 500 | 0.21 | 0.28 |
| Max drawdown (3Y) | -18.3% | -22.7% |
| Market cap | $0.4B | – |
| P/E (trailing) | 10.8 | – |
| Dividend yield | 6.86% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGR | UCIB |
|---|---|---|
| 2022 | +38.9% | +18.2% |
| 2023 | +5.8% | -2.3% |
| 2024 | +8.1% | +6.6% |
| 2025 | +17.3% | +9.0% |
| 2026 | +30.7% | +32.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGR and UCIB good diversifiers for each other?
Reasonably. At 0.46, BGR and UCIB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BGR and UCIB?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.36 over the last year and 0.51 over 5 years.
Is UCIB a good diversifier for BGR?
Reasonably. At 0.46, BGR and UCIB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bgr-vs-ucib.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bgr-vs-ucib/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BGR correlations · UCIB correlations
