GUT vs NEE: Correlation
Measured on weekly returns over the past three years, Gabelli Utility Trust (The) (GUT) and NextEra Energy (NEE) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GUT and NEE?
Over the past 3 years, GUT and NEE moved with a correlation of 0.44, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.10 versus 0.44 over 3 years. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 251.6 %².
NEE is one of the assets that tracks GUT most closely: it ranks #1 out of the 14 assets we track against GUT. Twelve-month performance is nearly a tie, at +18.5% for GUT and +16.2% for NEE.
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.
GUT vs NEE: side by side
| GUT (Gabelli Utility Trust (The)) | NEE (NextEra Energy) | |
|---|---|---|
| 1-year return | +18.5% | +16.2% |
| 5-year return | +29.5% | +12.9% |
| Volatility (ann.) | 21.5% | 26.5% |
| Beta vs S&P 500 | 0.37 | 0.28 |
| Max drawdown (3Y) | -28.7% | -28.8% |
| Market cap | – | $174.1B |
| P/E (trailing) | 11.9 | 18.9 |
| Dividend yield | 9.39% | 2.82% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | GUT | NEE |
|---|---|---|
| 2022 | -1.1% | -8.5% |
| 2023 | -21.1% | -25.3% |
| 2024 | +6.0% | +21.5% |
| 2025 | +33.1% | +15.5% |
| 2026 | +13.7% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GUT and NEE good diversifiers for each other?
Reasonably. At 0.44, GUT and NEE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GUT and NEE?
As of 2026-08-27, the correlation of weekly returns between GUT and NEE is 0.44 over 3 years, 0.10 over 1 year and 0.41 over 5 years.
Is NEE a good diversifier for GUT?
Reasonably. At 0.44, GUT and NEE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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.
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Related comparisons
Hubs: GUT correlations · NEE correlations
