ERH vs FT: Correlation
Measured on weekly returns over the past three years, Allspring Utilities and High Income Fund (ERH) and Franklin Universal Trust (FT) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERH and FT?
On 3 years of weekly data the ERH/FT correlation comes out at 0.74, strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.74 over 3. The 5-year figure is 0.69, and annualized covariance runs at 115.5 %².
By 3-year correlation, FT places #4 of the 21 assets tracked against ERH. Neither side won the trailing year by much: +3.2% against +4.8%.
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.
ERH vs FT: side by side
| ERH (Allspring Utilities and High Income Fund) | FT (Franklin Universal Trust) | |
|---|---|---|
| 1-year return | +3.2% | +4.8% |
| 5-year return | +17.1% | +31.6% |
| Volatility (ann.) | 14.9% | 10.5% |
| Beta vs S&P 500 | 0.33 | 0.32 |
| Max drawdown (3Y) | -16.2% | -10.6% |
| Market cap | – | – |
| P/E (trailing) | 4.6 | 6.0 |
| Dividend yield | 8.46% | 6.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERH | FT |
|---|---|---|
| 2022 | -18.4% | -14.0% |
| 2023 | -10.5% | +6.6% |
| 2024 | +25.7% | +18.4% |
| 2025 | +19.8% | +17.0% |
| 2026 | +2.9% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERH and FT good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ERH and FT?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.65 over the last year and 0.69 over 5 years.
Is FT a good diversifier for ERH?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
A reading of 0.74 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/erh-vs-ft.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/erh-vs-ft/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ERH correlations · FT correlations
