AVA vs BKH: Correlation
Avista Corporation (AVA) and Black Hills Corporation (BKH) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVA and BKH?
On 3 years of weekly data the AVA/BKH correlation comes out at 0.76, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. The 5-year figure is 0.73, and annualized covariance runs at 325.1 %².
In AVA's tracked universe of 20 assets, BKH sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months BKH outperformed by 19.6 percentage points (+6.9% for AVA against +26.5% for BKH).
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.
AVA vs BKH: side by side
| AVA (Avista Corporation) | BKH (Black Hills Corporation) | |
|---|---|---|
| 1-year return | +6.9% | +26.5% |
| 5-year return | +15.3% | +27.4% |
| Volatility (ann.) | 19.8% | 21.5% |
| Beta vs S&P 500 | 0.05 | 0.32 |
| Max drawdown (3Y) | -14.0% | -14.1% |
| Market cap | $3.2B | $5.6B |
| P/E (trailing) | 13.8 | 18.5 |
| Dividend yield | 5.15% | 3.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVA | BKH |
|---|---|---|
| 2022 | +8.8% | +3.1% |
| 2023 | -15.3% | -19.9% |
| 2024 | +7.8% | +13.6% |
| 2025 | +10.7% | +23.9% |
| 2026 | +1.6% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVA and BKH good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVA and BKH?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.69 over the last year and 0.73 over 5 years.
Is BKH a good diversifier for AVA?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
A reading of 0.76 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AVA correlations · BKH correlations
