AEE vs SO: Correlation
Measured on weekly returns over the past three years, Ameren (AEE) and Southern Company (SO) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEE and SO?
Across a 3-year window, the weekly returns of AEE and SO correlate at 0.74, strong. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. Stretching to 5 years gives 0.81, with an annualized covariance of 218.0 %².
By 3-year correlation, SO places #15 of the 35 assets tracked against AEE. The trailing year gives AEE the advantage: +8.8% versus -1.4%, a 10.2-point spread. On a rolling one-year basis the correlation drifted between 0.51 and 0.87, a moderate band.
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 SO: side by side
| AEE (Ameren) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +8.8% | -1.4% |
| 5-year return | +39.7% | +62.6% |
| Volatility (ann.) | 17.8% | 16.5% |
| Beta vs S&P 500 | 0.10 | -0.02 |
| Max drawdown (3Y) | -16.5% | -15.0% |
| Market cap | $29.6B | $102.4B |
| P/E (trailing) | 19.0 | 21.7 |
| Dividend yield | 2.71% | 3.32% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | AEE | SO |
|---|---|---|
| 2022 | +2.5% | +8.2% |
| 2023 | -16.1% | +2.2% |
| 2024 | +27.5% | +21.7% |
| 2025 | +15.3% | +9.5% |
| 2026 | +8.4% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEE and SO good diversifiers for each other?
Only partially. A correlation of 0.74 means AEE and SO 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 AEE and SO?
The AEE/SO correlation stands at 0.74 on a 3-year window (1 year: 0.80, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is SO a good diversifier for AEE?
Only partially. A correlation of 0.74 means AEE and SO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
A reading of 0.74 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: AEE correlations · SO correlations
