GUT vs UTG: Correlation
How closely do Gabelli Utility Trust (The) (GUT) and Reaves Utility Income Fund (UTG) 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 GUT and UTG?
Over the past 3 years, GUT and UTG moved with a correlation of 0.42, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.42 over 3 years. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 171.6 %².
Few assets follow GUT as closely as UTG, which ranks #3 of 14 tracked partners. The trailing year gives GUT the advantage: +18.5% versus +6.8%, a 11.7-point spread.
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 UTG: side by side
| GUT (Gabelli Utility Trust (The)) | UTG (Reaves Utility Income Fund) | |
|---|---|---|
| 1-year return | +18.5% | +6.8% |
| 5-year return | +29.5% | +53.5% |
| Volatility (ann.) | 21.5% | 19.1% |
| Beta vs S&P 500 | 0.37 | 0.67 |
| Max drawdown (3Y) | -28.7% | -14.9% |
| Market cap | – | $3.5B |
| P/E (trailing) | 11.9 | 2.8 |
| Dividend yield | 9.39% | 6.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GUT | UTG |
|---|---|---|
| 2022 | -1.1% | -13.4% |
| 2023 | -21.1% | +2.8% |
| 2024 | +6.0% | +28.1% |
| 2025 | +33.1% | +23.2% |
| 2026 | +13.7% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GUT and UTG 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 GUT and UTG?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.28 over the last year and 0.42 over 5 years.
Is UTG a good diversifier for GUT?
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/gut-vs-utg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gut-vs-utg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GUT correlations · UTG correlations
