DLR vs UTG: Correlation
Digital Realty (DLR) and Reaves Utility Income Fund (UTG) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLR and UTG?
Over the past 3 years, DLR and UTG moved with a correlation of 0.49, which is moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 254.1 %².
Within DLR's tracked universe of 30 assets, UTG comes in at #5 by 3-year correlation. On 12-month performance DLR holds a 9.6-point edge, +16.4% against +6.8%.
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.
DLR vs UTG: side by side
| DLR (Digital Realty) | UTG (Reaves Utility Income Fund) | |
|---|---|---|
| 1-year return | +16.4% | +6.8% |
| 5-year return | +40.3% | +53.5% |
| Volatility (ann.) | 27.1% | 19.1% |
| Beta vs S&P 500 | 0.73 | 0.67 |
| Max drawdown (3Y) | -29.4% | -14.9% |
| Market cap | $72.5B | $3.5B |
| P/E (trailing) | 94.2 | 2.8 |
| Dividend yield | 2.52% | 6.17% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | DLR | UTG |
|---|---|---|
| 2022 | -41.0% | -13.4% |
| 2023 | +39.9% | +2.8% |
| 2024 | +35.9% | +28.1% |
| 2025 | -10.1% | +23.2% |
| 2026 | +25.8% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLR and UTG good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DLR and UTG?
As of 2026-08-27, the correlation of weekly returns between DLR and UTG is 0.49 over 3 years, 0.50 over 1 year and 0.51 over 5 years.
Is UTG a good diversifier for DLR?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dlr-vs-utg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dlr-vs-utg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DLR correlations · UTG correlations
