ATO vs WEC: Correlation
Measured on weekly returns over the past three years, Atmos Energy (ATO) and WEC Energy Group (WEC) 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 ATO and WEC?
Over the past 3 years, ATO and WEC moved with a correlation of 0.74, which is strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 197.6 %².
Among the 32 assets we track against ATO, WEC ranks #5 by 3-year correlation. Their 12-month results are close: +2.9% for ATO against +2.1% for WEC. The link looks structural: the rolling one-year correlation barely moved, holding between 0.62 and 0.86.
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 WEC: side by side
| ATO (Atmos Energy) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | +2.9% | +2.1% |
| 5-year return | +94.1% | +32.7% |
| Volatility (ann.) | 15.9% | 16.9% |
| Beta vs S&P 500 | 0.15 | 0.02 |
| Max drawdown (3Y) | -12.7% | -11.6% |
| Market cap | $28.3B | $34.6B |
| P/E (trailing) | 19.9 | 20.6 |
| Dividend yield | 2.28% | 3.43% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ATO | WEC |
|---|---|---|
| 2022 | +9.6% | -0.5% |
| 2023 | +6.2% | -7.0% |
| 2024 | +23.4% | +16.1% |
| 2025 | +23.1% | +16.0% |
| 2026 | +1.5% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATO and WEC good diversifiers for each other?
Only partially. A correlation of 0.74 means ATO and WEC 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 ATO and WEC?
As of 2026-08-27, the correlation of weekly returns between ATO and WEC is 0.74 over 3 years, 0.78 over 1 year and 0.78 over 5 years.
Is WEC a good diversifier for ATO?
Only partially. A correlation of 0.74 means ATO and WEC 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ato-vs-wec.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ato-vs-wec/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ATO correlations · WEC correlations
