AEE vs EVRG: Correlation
Ameren (AEE) and Evergy (EVRG) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEE and EVRG?
On 3 years of weekly data the AEE/EVRG correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.85 lands near the 3-year figure. The 5-year figure is 0.82, and annualized covariance runs at 253.3 %².
Within AEE's tracked universe of 35 assets, EVRG comes in at #7 by 3-year correlation. The trailing year gives EVRG the advantage: +8.8% versus +16.9%, a 8.1-point spread. Stability stands out here, with the rolling one-year correlation confined to 0.71 through 0.88.
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.
AEE vs EVRG: side by side
| AEE (Ameren) | EVRG (Evergy) | |
|---|---|---|
| 1-year return | +8.8% | +16.9% |
| 5-year return | +39.7% | +46.3% |
| Volatility (ann.) | 17.8% | 17.9% |
| Beta vs S&P 500 | 0.10 | 0.13 |
| Max drawdown (3Y) | -16.5% | -15.8% |
| Market cap | $29.6B | $18.8B |
| P/E (trailing) | 19.0 | 20.9 |
| Dividend yield | 2.71% | 3.35% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | AEE | EVRG |
|---|---|---|
| 2022 | +2.5% | -4.9% |
| 2023 | -16.1% | -13.3% |
| 2024 | +27.5% | +23.4% |
| 2025 | +15.3% | +22.4% |
| 2026 | +8.4% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEE and EVRG good diversifiers for each other?
No: a correlation of 0.80 means AEE and EVRG tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AEE and EVRG?
The AEE/EVRG correlation stands at 0.80 on a 3-year window (1 year: 0.85, 5 years: 0.82), computed from weekly returns as of 2026-08-27.
Is EVRG a good diversifier for AEE?
No: a correlation of 0.80 means AEE and EVRG tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 mean?
On the −1 to +1 scale, 0.80 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.
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Related comparisons
Hubs: AEE correlations · EVRG correlations
