ERH vs TAC: Correlation
Measured on weekly returns over the past three years, Allspring Utilities and High Income Fund (ERH) and TransAlta Corporation (TAC) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERH and TAC?
On 3 years of weekly data the ERH/TAC correlation comes out at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 225.8 %².
Within ERH's tracked universe of 21 assets, TAC comes in at #16 by 3-year correlation. Their 12-month results are close: +3.2% for ERH against +4.3% for TAC. Risk is not evenly split, since TAC carries 2.4 times the volatility of the other side.
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 TAC: side by side
| ERH (Allspring Utilities and High Income Fund) | TAC (TransAlta Corporation) | |
|---|---|---|
| 1-year return | +3.2% | +4.3% |
| 5-year return | +17.1% | +36.9% |
| Volatility (ann.) | 14.9% | 36.2% |
| Beta vs S&P 500 | 0.33 | 0.84 |
| Max drawdown (3Y) | -16.2% | -43.3% |
| Market cap | – | $4.0B |
| P/E (trailing) | 4.6 | – |
| Dividend yield | 8.46% | 2.10% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERH | TAC |
|---|---|---|
| 2022 | -18.4% | -18.0% |
| 2023 | -10.5% | -5.6% |
| 2024 | +25.7% | +74.0% |
| 2025 | +19.8% | -9.5% |
| 2026 | +2.9% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERH and TAC 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 TAC?
As of 2026-08-27, the correlation of weekly returns between ERH and TAC is 0.42 over 3 years, 0.45 over 1 year and 0.38 over 5 years.
Is TAC 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?
A reading of 0.42 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-tac.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/erh-vs-tac/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ERH correlations · TAC correlations
