DGX vs PPL: Correlation
How closely do Quest Diagnostics (DGX) and PPL Corporation (PPL) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGX and PPL?
Over the past 3 years, DGX and PPL moved with a correlation of 0.42, which is moderate. The link has tightened recently: the 1-year correlation (0.54) runs above the 3-year figure (0.42). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 140.0 %².
Within DGX's tracked universe of 32 assets, PPL comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DGX ahead by 41.5 points (+38.5% versus -3.0%). Across three years, the rolling one-year figure varied moderately, from 0.15 to 0.60.
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.
DGX vs PPL: side by side
| DGX (Quest Diagnostics) | PPL (PPL Corporation) | |
|---|---|---|
| 1-year return | +38.5% | -3.0% |
| 5-year return | +78.8% | +41.1% |
| Volatility (ann.) | 19.1% | 17.4% |
| Beta vs S&P 500 | 0.09 | 0.13 |
| Max drawdown (3Y) | -12.4% | -13.3% |
| Market cap | $27.0B | $25.9B |
| P/E (trailing) | 26.0 | 20.7 |
| Dividend yield | 1.36% | 3.18% |
| Sector / category | Health Care | Utilities |
Year-by-year returns
| Year | DGX | PPL |
|---|---|---|
| 2022 | -7.8% | +0.4% |
| 2023 | -10.1% | -3.8% |
| 2024 | +11.8% | +24.0% |
| 2025 | +17.2% | +11.4% |
| 2026 | +42.8% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGX and PPL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DGX and PPL?
The DGX/PPL correlation stands at 0.42 on a 3-year window (1 year: 0.54, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is PPL a good diversifier for DGX?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dgx-vs-ppl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgx-vs-ppl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DGX correlations · PPL correlations
