D vs NEE: Correlation
Dominion Energy (D) and NextEra Energy (NEE) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are D and NEE?
Over the past 3 years, D and NEE moved with a correlation of 0.55, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.55 over 3 years. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 298.8 %².
Among the 31 assets we track against D, NEE ranks #17 by 3-year correlation. Twelve-month performance is nearly a tie, at +15.1% for D and +16.2% for NEE. The rolling one-year correlation moved between 0.35 and 0.74 over the past three years, a moderate range.
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.
D vs NEE: side by side
| D (Dominion Energy) | NEE (NextEra Energy) | |
|---|---|---|
| 1-year return | +15.1% | +16.2% |
| 5-year return | +6.1% | +12.9% |
| Volatility (ann.) | 20.5% | 26.5% |
| Beta vs S&P 500 | 0.18 | 0.28 |
| Max drawdown (3Y) | -19.1% | -28.8% |
| Market cap | $58.5B | $174.1B |
| P/E (trailing) | 23.2 | 18.9 |
| Dividend yield | 3.99% | 2.82% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | D | NEE |
|---|---|---|
| 2022 | -19.1% | -8.5% |
| 2023 | -19.1% | -25.3% |
| 2024 | +20.4% | +21.5% |
| 2025 | +14.0% | +15.5% |
| 2026 | +15.9% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are D and NEE good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between D and NEE?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.43 over the last year and 0.53 over 5 years.
Is NEE a good diversifier for D?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/d-vs-nee.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/d-vs-nee/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: D correlations · NEE correlations
