AEE vs WEC: Correlation
Ameren (AEE) and WEC Energy Group (WEC) show a very strong relationship: their 3-year correlation of weekly returns is 0.87.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEE and WEC?
Over the past 3 years, AEE and WEC moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.91 over 1 year against 0.87 over 3. Over 5 years the correlation is 0.90, and the annualized covariance of weekly returns is 260.8 %².
Few assets follow AEE as closely as WEC, which ranks #1 of 35 tracked partners. Over the last 12 months AEE came out ahead by 6.7 percentage points (+8.8% against +2.1%). The rolling one-year correlation stayed in a tight band between 0.79 and 0.93 over the past three years, which points to a structural rather than episodic relationship.
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 WEC: side by side
| AEE (Ameren) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | +8.8% | +2.1% |
| 5-year return | +39.7% | +32.7% |
| Volatility (ann.) | 17.8% | 16.9% |
| Beta vs S&P 500 | 0.10 | 0.02 |
| Max drawdown (3Y) | -16.5% | -11.6% |
| Market cap | $29.6B | $34.6B |
| P/E (trailing) | 19.0 | 20.6 |
| Dividend yield | 2.71% | 3.43% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | AEE | WEC |
|---|---|---|
| 2022 | +2.5% | -0.5% |
| 2023 | -16.1% | -7.0% |
| 2024 | +27.5% | +16.1% |
| 2025 | +15.3% | +16.0% |
| 2026 | +8.4% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEE and WEC good diversifiers for each other?
No. With a correlation of 0.87, AEE and WEC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AEE and WEC?
Using weekly returns as of 2026-08-27: 0.87 over 3 years, with 0.91 over the last year and 0.90 over 5 years.
Is WEC a good diversifier for AEE?
No. With a correlation of 0.87, AEE and WEC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.87 mean?
On the −1 to +1 scale, 0.87 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 · WEC correlations
