NRG vs UTG: Correlation
NRG Energy (NRG) and Reaves Utility Income Fund (UTG) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRG and UTG?
Over the past 3 years, NRG and UTG moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.58 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 444.8 %².
Within NRG's tracked universe of 31 assets, UTG comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months UTG outperformed by 28.6 percentage points (-21.8% for NRG against +6.8% for UTG). Risk is not evenly split, since NRG carries 2.3 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.
NRG vs UTG: side by side
| NRG (NRG Energy) | UTG (Reaves Utility Income Fund) | |
|---|---|---|
| 1-year return | -21.8% | +6.8% |
| 5-year return | +191.5% | +53.5% |
| Volatility (ann.) | 44.4% | 19.1% |
| Beta vs S&P 500 | 1.30 | 0.67 |
| Max drawdown (3Y) | -38.9% | -14.9% |
| Market cap | $24.1B | $3.5B |
| P/E (trailing) | 30.2 | 2.8 |
| Dividend yield | 1.61% | 6.17% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | NRG | UTG |
|---|---|---|
| 2022 | -23.5% | -13.4% |
| 2023 | +69.4% | +2.8% |
| 2024 | +78.6% | +28.1% |
| 2025 | +78.9% | +23.2% |
| 2026 | -27.5% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRG and UTG good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NRG and UTG?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.58 over the last year and 0.51 over 5 years.
Is UTG a good diversifier for NRG?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
A reading of 0.52 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/nrg-vs-utg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nrg-vs-utg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NRG correlations · UTG correlations
