TAC vs UTG: Correlation
TransAlta Corporation (TAC) and Reaves Utility Income Fund (UTG) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TAC and UTG?
On 3 years of weekly data the TAC/UTG correlation comes out at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. The 5-year figure is 0.50, and annualized covariance runs at 342.4 %².
In TAC's tracked universe of 10 assets, UTG sits right near the top at #1. Twelve-month performance is nearly a tie, at +4.3% for TAC and +6.8% for UTG. Risk is not evenly split, since TAC carries 1.9 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.
TAC vs UTG: side by side
| TAC (TransAlta Corporation) | UTG (Reaves Utility Income Fund) | |
|---|---|---|
| 1-year return | +4.3% | +6.8% |
| 5-year return | +36.9% | +53.5% |
| Volatility (ann.) | 36.2% | 19.1% |
| Beta vs S&P 500 | 0.84 | 0.67 |
| Max drawdown (3Y) | -43.3% | -14.9% |
| Market cap | $4.0B | $3.5B |
| P/E (trailing) | – | 2.8 |
| Dividend yield | 2.10% | 6.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TAC | UTG |
|---|---|---|
| 2022 | -18.0% | -13.4% |
| 2023 | -5.6% | +2.8% |
| 2024 | +74.0% | +28.1% |
| 2025 | -9.5% | +23.2% |
| 2026 | -0.7% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TAC and UTG good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between TAC and UTG?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.55 over the last year and 0.50 over 5 years.
Is UTG a good diversifier for TAC?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tac-vs-utg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tac-vs-utg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TAC correlations · UTG correlations
