AEP vs EVRG: Correlation
How closely do American Electric Power (AEP) and Evergy (EVRG) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEP and EVRG?
Across a 3-year window, the weekly returns of AEP and EVRG correlate at 0.76, strong. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. Stretching to 5 years gives 0.80, with an annualized covariance of 258.1 %².
EVRG is one of the assets that tracks AEP most closely: it ranks #3 out of the 36 assets we track against AEP. Neither side won the trailing year by much: +12.1% against +16.9%. On a rolling one-year basis the correlation drifted between 0.60 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.
AEP vs EVRG: side by side
| AEP (American Electric Power) | EVRG (Evergy) | |
|---|---|---|
| 1-year return | +12.1% | +16.9% |
| 5-year return | +63.9% | +46.3% |
| Volatility (ann.) | 18.9% | 17.9% |
| Beta vs S&P 500 | -0.01 | 0.13 |
| Max drawdown (3Y) | -13.1% | -15.8% |
| Market cap | $66.8B | $18.8B |
| P/E (trailing) | 21.4 | 20.9 |
| Dividend yield | 3.06% | 3.35% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | AEP | EVRG |
|---|---|---|
| 2022 | +10.4% | -4.9% |
| 2023 | -11.0% | -13.3% |
| 2024 | +18.2% | +23.4% |
| 2025 | +29.4% | +22.4% |
| 2026 | +8.9% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEP and EVRG good diversifiers for each other?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AEP and EVRG?
As of 2026-08-27, the correlation of weekly returns between AEP and EVRG is 0.76 over 3 years, 0.84 over 1 year and 0.80 over 5 years.
Is EVRG a good diversifier for AEP?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 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: AEP correlations · EVRG correlations
