PEG vs UTG: Correlation
How closely do Public Service Enterprise Group (PEG) and Reaves Utility Income Fund (UTG) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEG and UTG?
Across a 3-year window, the weekly returns of PEG and UTG correlate at 0.64, strong. The past 12 months show a weaker link (0.50) than the 3-year average (0.64). Stretching to 5 years gives 0.72, with an annualized covariance of 232.3 %².
Among the 32 assets we track against PEG, UTG ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months UTG outperformed by 15.4 percentage points (-8.6% for PEG against +6.8% for UTG).
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.
PEG vs UTG: side by side
| PEG (Public Service Enterprise Group) | UTG (Reaves Utility Income Fund) | |
|---|---|---|
| 1-year return | -8.6% | +6.8% |
| 5-year return | +34.9% | +53.5% |
| Volatility (ann.) | 18.9% | 19.1% |
| Beta vs S&P 500 | 0.25 | 0.67 |
| Max drawdown (3Y) | -18.8% | -14.9% |
| Market cap | $36.5B | $3.5B |
| P/E (trailing) | 18.4 | 2.8 |
| Dividend yield | 3.51% | 6.17% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | PEG | UTG |
|---|---|---|
| 2022 | -5.1% | -13.4% |
| 2023 | +3.6% | +2.8% |
| 2024 | +42.6% | +28.1% |
| 2025 | -1.9% | +23.2% |
| 2026 | -7.1% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEG and UTG good diversifiers for each other?
Only partially. A correlation of 0.64 means PEG and UTG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between PEG and UTG?
As of 2026-08-27, the correlation of weekly returns between PEG and UTG is 0.64 over 3 years, 0.50 over 1 year and 0.72 over 5 years.
Is UTG a good diversifier for PEG?
Only partially. A correlation of 0.64 means PEG and UTG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/peg-vs-utg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/peg-vs-utg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PEG correlations · UTG correlations
