AWK vs EVRG: Correlation
American Water Works (AWK) and Evergy (EVRG) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWK and EVRG?
On 3 years of weekly data the AWK/EVRG correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 217.3 %².
Within AWK's tracked universe of 49 assets, EVRG comes in at #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EVRG outperformed by 19.9 percentage points (-3.0% for AWK against +16.9% for EVRG). The relationship is regime-dependent: the rolling one-year correlation swung between 0.20 and 0.77 over the past three years, so this pair behaves very differently depending on the market environment.
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.
AWK vs EVRG: side by side
| AWK (American Water Works) | EVRG (Evergy) | |
|---|---|---|
| 1-year return | -3.0% | +16.9% |
| 5-year return | -16.6% | +46.3% |
| Volatility (ann.) | 20.7% | 17.9% |
| Beta vs S&P 500 | -0.11 | 0.13 |
| Max drawdown (3Y) | -18.8% | -15.8% |
| Market cap | $27.2B | $18.8B |
| P/E (trailing) | 23.7 | 20.9 |
| Dividend yield | 2.46% | 3.35% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | AWK | EVRG |
|---|---|---|
| 2022 | -17.9% | -4.9% |
| 2023 | -11.7% | -13.3% |
| 2024 | -3.5% | +23.4% |
| 2025 | +7.4% | +22.4% |
| 2026 | +6.9% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWK and EVRG good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AWK and EVRG?
As of 2026-08-27, the correlation of weekly returns between AWK and EVRG is 0.59 over 3 years, 0.59 over 1 year and 0.66 over 5 years.
Is EVRG a good diversifier for AWK?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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: AWK correlations · EVRG correlations
