DPG vs WELL: Correlation
How closely do Duff & Phelps Utility and Infrastructure Fund Inc. (DPG) and Welltower (WELL) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DPG and WELL?
On 3 years of weekly data the DPG/WELL correlation comes out at 0.57, moderate. Recent behaviour matches the longer record: 0.64 over 1 year against 0.57 over 3. The 5-year figure is 0.51, and annualized covariance runs at 214.9 %².
Within DPG's tracked universe of 30 assets, WELL comes in at #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WELL outperformed by 23.6 percentage points (+21.3% for DPG against +44.9% for WELL).
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.
DPG vs WELL: side by side
| DPG (Duff & Phelps Utility and Infrastructure Fund Inc.) | WELL (Welltower) | |
|---|---|---|
| 1-year return | +21.3% | +44.9% |
| 5-year return | +54.4% | +214.9% |
| Volatility (ann.) | 17.8% | 21.2% |
| Beta vs S&P 500 | 0.36 | 0.30 |
| Max drawdown (3Y) | -14.2% | -13.0% |
| Market cap | $0.5B | $172.6B |
| P/E (trailing) | 3.4 | 108.9 |
| Dividend yield | 0.00% | 1.27% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | DPG | WELL |
|---|---|---|
| 2022 | +3.1% | -21.2% |
| 2023 | -25.1% | +41.8% |
| 2024 | +38.2% | +43.1% |
| 2025 | +16.3% | +49.9% |
| 2026 | +19.5% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DPG and WELL good diversifiers for each other?
To a limited degree. At 0.57 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 DPG and WELL?
The DPG/WELL correlation stands at 0.57 on a 3-year window (1 year: 0.64, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is WELL a good diversifier for DPG?
To a limited degree. At 0.57 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 0.57 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/dpg-vs-well.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dpg-vs-well/)
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Related comparisons
Hubs: DPG correlations · WELL correlations
