AES vs NEE: Correlation
Measured on weekly returns over the past three years, AES Corporation (AES) and NextEra Energy (NEE) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AES and NEE?
On 3 years of weekly data the AES/NEE correlation comes out at 0.62, strong. The link has loosened recently: the 1-year correlation (0.39) runs below the 3-year figure (0.62). The 5-year figure is 0.63, and annualized covariance runs at 665.3 %².
Few assets follow AES as closely as NEE, which ranks #1 of 31 tracked partners. Their 12-month results are close: +15.9% for AES against +16.2% for NEE. On a rolling one-year basis the correlation drifted between 0.35 and 0.75, a moderate band. One caveat on sizing: AES is 1.5 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.
AES vs NEE: side by side
| AES (AES Corporation) | NEE (NextEra Energy) | |
|---|---|---|
| 1-year return | +15.9% | +16.2% |
| 5-year return | -25.1% | +12.9% |
| Volatility (ann.) | 40.5% | 26.5% |
| Beta vs S&P 500 | 0.86 | 0.28 |
| Max drawdown (3Y) | -53.3% | -28.8% |
| Market cap | $10.5B | $174.1B |
| P/E (trailing) | 5.5 | 18.9 |
| Dividend yield | 4.78% | 2.82% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | AES | NEE |
|---|---|---|
| 2022 | +21.7% | -8.5% |
| 2023 | -30.9% | -25.3% |
| 2024 | -30.4% | +21.5% |
| 2025 | +18.3% | +15.5% |
| 2026 | +6.6% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AES and NEE good diversifiers for each other?
To a limited degree. At 0.62 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 AES and NEE?
The AES/NEE correlation stands at 0.62 on a 3-year window (1 year: 0.39, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is NEE a good diversifier for AES?
To a limited degree. At 0.62 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 0.62 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aes-vs-nee.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aes-vs-nee/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AES correlations · NEE correlations
