ATO vs PPL: Correlation
How closely do Atmos Energy (ATO) and PPL Corporation (PPL) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATO and PPL?
On 3 years of weekly data the ATO/PPL correlation comes out at 0.73, strong. Recent behaviour matches the longer record: 0.72 over 1 year against 0.73 over 3. The 5-year figure is 0.74, and annualized covariance runs at 203.0 %².
Within ATO's tracked universe of 32 assets, PPL comes in at #7 by 3-year correlation. On 12-month performance ATO holds a 5.9-point edge, +2.9% against -3.0%. The rolling one-year correlation stayed in a tight band between 0.66 and 0.82 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.
ATO vs PPL: side by side
| ATO (Atmos Energy) | PPL (PPL Corporation) | |
|---|---|---|
| 1-year return | +2.9% | -3.0% |
| 5-year return | +94.1% | +41.1% |
| Volatility (ann.) | 15.9% | 17.4% |
| Beta vs S&P 500 | 0.15 | 0.13 |
| Max drawdown (3Y) | -12.7% | -13.3% |
| Market cap | $28.3B | $25.9B |
| P/E (trailing) | 19.9 | 20.7 |
| Dividend yield | 2.28% | 3.18% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ATO | PPL |
|---|---|---|
| 2022 | +9.6% | +0.4% |
| 2023 | +6.2% | -3.8% |
| 2024 | +23.4% | +24.0% |
| 2025 | +23.1% | +11.4% |
| 2026 | +1.5% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATO and PPL good diversifiers for each other?
To a limited degree. At 0.73 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 ATO and PPL?
The ATO/PPL correlation stands at 0.73 on a 3-year window (1 year: 0.72, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is PPL a good diversifier for ATO?
To a limited degree. At 0.73 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 0.73 mean?
On the −1 to +1 scale, 0.73 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ato-vs-ppl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ato-vs-ppl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ATO correlations · PPL correlations
