UTG vs VST: Correlation
Measured on weekly returns over the past three years, Reaves Utility Income Fund (UTG) and Vistra Corp. (VST) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UTG and VST?
On 3 years of weekly data the UTG/VST correlation comes out at 0.59, moderate. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 590.0 %².
By 3-year correlation, VST places #9 of the 23 assets tracked against UTG. Their recent paths diverged sharply: over the last 12 months UTG outperformed by 34.6 percentage points (+6.8% for UTG against -27.8% for VST). One caveat on sizing: VST is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
UTG vs VST: side by side
| UTG (Reaves Utility Income Fund) | VST (Vistra Corp.) | |
|---|---|---|
| 1-year return | +6.8% | -27.8% |
| 5-year return | +53.5% | +713.7% |
| Volatility (ann.) | 19.1% | 52.8% |
| Beta vs S&P 500 | 0.67 | 1.62 |
| Max drawdown (3Y) | -14.9% | -48.8% |
| Market cap | $3.5B | $46.9B |
| P/E (trailing) | 2.8 | 23.6 |
| Dividend yield | 6.17% | 0.65% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | UTG | VST |
|---|---|---|
| 2022 | -13.4% | +5.1% |
| 2023 | +2.8% | +70.7% |
| 2024 | +28.1% | +261.5% |
| 2025 | +23.2% | +17.7% |
| 2026 | +8.1% | -13.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UTG and VST good diversifiers for each other?
Only partially. A correlation of 0.59 means UTG and VST 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 UTG and VST?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.67 over the last year and 0.53 over 5 years.
Is VST a good diversifier for UTG?
Only partially. A correlation of 0.59 means UTG and VST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: UTG correlations · VST correlations
