GUT vs ZTR: Correlation
Gabelli Utility Trust (The) (GUT) and Virtus Total Return Fund Inc. (ZTR) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GUT and ZTR?
Over the past 3 years, GUT and ZTR moved with a correlation of 0.42, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.30 versus 0.42 over 3 years. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 127.1 %².
Among the 14 assets we track against GUT, ZTR ranks #5 by 3-year correlation. Their 12-month results are close: +18.5% for GUT against +18.0% for ZTR. Risk is not evenly split, since GUT carries 1.5 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.
GUT vs ZTR: side by side
| GUT (Gabelli Utility Trust (The)) | ZTR (Virtus Total Return Fund Inc.) | |
|---|---|---|
| 1-year return | +18.5% | +18.0% |
| 5-year return | +29.5% | +27.0% |
| Volatility (ann.) | 21.5% | 14.0% |
| Beta vs S&P 500 | 0.37 | 0.40 |
| Max drawdown (3Y) | -28.7% | -18.3% |
| Market cap | – | $0.3B |
| P/E (trailing) | 11.9 | 5.7 |
| Dividend yield | 9.39% | 8.75% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GUT | ZTR |
|---|---|---|
| 2022 | -1.1% | -21.3% |
| 2023 | -21.1% | -3.2% |
| 2024 | +6.0% | +18.3% |
| 2025 | +33.1% | +18.6% |
| 2026 | +13.7% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GUT and ZTR good diversifiers for each other?
Reasonably. At 0.42, GUT and ZTR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GUT and ZTR?
The GUT/ZTR correlation stands at 0.42 on a 3-year window (1 year: 0.30, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is ZTR a good diversifier for GUT?
Reasonably. At 0.42, GUT and ZTR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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 · ZTR correlations
