D vs PNW: Correlation
Dominion Energy (D) and Pinnacle West Capital (PNW) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are D and PNW?
On 3 years of weekly data the D/PNW correlation comes out at 0.66, strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.66 over 3. The 5-year figure is 0.64, and annualized covariance runs at 244.0 %².
By 3-year correlation, PNW places #8 of the 31 assets tracked against D. Their 12-month results are close: +15.1% for D against +12.4% for PNW. Across three years, the rolling one-year figure varied moderately, from 0.48 to 0.75.
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 PNW: side by side
| D (Dominion Energy) | PNW (Pinnacle West Capital) | |
|---|---|---|
| 1-year return | +15.1% | +12.4% |
| 5-year return | +6.1% | +59.3% |
| Volatility (ann.) | 20.5% | 18.2% |
| Beta vs S&P 500 | 0.18 | 0.09 |
| Max drawdown (3Y) | -19.1% | -14.4% |
| Market cap | $58.5B | $11.9B |
| P/E (trailing) | 23.2 | 18.8 |
| Dividend yield | 3.99% | 3.67% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | D | PNW |
|---|---|---|
| 2022 | -19.1% | +13.0% |
| 2023 | -19.1% | -1.2% |
| 2024 | +20.4% | +23.5% |
| 2025 | +14.0% | +8.9% |
| 2026 | +15.9% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are D and PNW good diversifiers for each other?
To a limited degree. At 0.66 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 D and PNW?
The D/PNW correlation stands at 0.66 on a 3-year window (1 year: 0.67, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is PNW a good diversifier for D?
To a limited degree. At 0.66 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 0.66 mean?
A reading of 0.66 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/d-vs-pnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/d-vs-pnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: D correlations · PNW correlations
