ERH vs FEMY: Correlation
Allspring Utilities and High Income Fund (ERH) and Femasys Inc. (FEMY) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERH and FEMY?
Across a 3-year window, the weekly returns of ERH and FEMY correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.17) runs above the 3-year figure (-0.22). Stretching to 5 years gives -0.12, with an annualized covariance of -1634.9 %².
FEMY is close to the least connected end of ERH's tracked universe, ranking #19 of 21. Correlation aside, the last 12 months split them widely, with ERH ahead by 64.4 points (+3.2% versus -61.2%). One caveat on sizing: FEMY is 34.2 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.
ERH vs FEMY: side by side
| ERH (Allspring Utilities and High Income Fund) | FEMY (Femasys Inc.) | |
|---|---|---|
| 1-year return | +3.2% | -61.2% |
| 5-year return | +17.1% | -98.0% |
| Volatility (ann.) | 14.9% | 509.3% |
| Beta vs S&P 500 | 0.33 | -0.49 |
| Max drawdown (3Y) | -16.2% | -97.2% |
| Market cap | – | – |
| P/E (trailing) | 4.6 | – |
| Dividend yield | 8.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERH | FEMY |
|---|---|---|
| 2022 | -18.4% | -76.9% |
| 2023 | -10.5% | +8.3% |
| 2024 | +25.7% | +12.8% |
| 2025 | +19.8% | -47.6% |
| 2026 | +2.9% | -75.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERH and FEMY good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between ERH and FEMY?
As of 2026-08-27, the correlation of weekly returns between ERH and FEMY is -0.22 over 3 years, 0.17 over 1 year and -0.12 over 5 years.
Is FEMY a good diversifier for ERH?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ERH correlations · FEMY correlations
