ERH vs GUT: Correlation
How closely do Allspring Utilities and High Income Fund (ERH) and Gabelli Utility Trust (The) (GUT) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERH and GUT?
On 3 years of weekly data the ERH/GUT correlation comes out at 0.42, moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.42). The 5-year figure is 0.42, and annualized covariance runs at 134.2 %².
By 3-year correlation, GUT places #15 of the 21 assets tracked against ERH. Their recent paths diverged sharply: over the last 12 months GUT outperformed by 15.3 percentage points (+3.2% for ERH against +18.5% for GUT).
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 GUT: side by side
| ERH (Allspring Utilities and High Income Fund) | GUT (Gabelli Utility Trust (The)) | |
|---|---|---|
| 1-year return | +3.2% | +18.5% |
| 5-year return | +17.1% | +29.5% |
| Volatility (ann.) | 14.9% | 21.5% |
| Beta vs S&P 500 | 0.33 | 0.37 |
| Max drawdown (3Y) | -16.2% | -28.7% |
| Market cap | – | – |
| P/E (trailing) | 4.6 | 11.9 |
| Dividend yield | 8.46% | 9.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERH | GUT |
|---|---|---|
| 2022 | -18.4% | -1.1% |
| 2023 | -10.5% | -21.1% |
| 2024 | +25.7% | +6.0% |
| 2025 | +19.8% | +33.1% |
| 2026 | +2.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERH and GUT good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ERH and GUT?
As of 2026-08-27, the correlation of weekly returns between ERH and GUT is 0.42 over 3 years, 0.30 over 1 year and 0.42 over 5 years.
Is GUT a good diversifier for ERH?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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.
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Related comparisons
Hubs: ERH correlations · GUT correlations
