DTE vs PNW: Correlation
How closely do DTE Energy (DTE) and Pinnacle West Capital (PNW) trade together? Their weekly returns over three years give a correlation of 0.72, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTE and PNW?
Over the past 3 years, DTE and PNW moved with a correlation of 0.72, which is strong. The past 12 months show a tighter link (0.87) than the 3-year average (0.72). Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 224.4 %².
Within DTE's tracked universe of 44 assets, PNW comes in at #17 by 3-year correlation. Over the last 12 months PNW came out ahead by 10.7 percentage points (+1.7% against +12.4%). Across three years, the rolling one-year figure varied moderately, from 0.47 to 0.87.
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.
DTE vs PNW: side by side
| DTE (DTE Energy) | PNW (Pinnacle West Capital) | |
|---|---|---|
| 1-year return | +1.7% | +12.4% |
| 5-year return | +33.3% | +59.3% |
| Volatility (ann.) | 17.1% | 18.2% |
| Beta vs S&P 500 | 0.07 | 0.09 |
| Max drawdown (3Y) | -12.4% | -14.4% |
| Market cap | $28.3B | $11.9B |
| P/E (trailing) | 21.8 | 18.8 |
| Dividend yield | 3.39% | 3.67% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | DTE | PNW |
|---|---|---|
| 2022 | +1.2% | +13.0% |
| 2023 | -2.8% | -1.2% |
| 2024 | +13.5% | +23.5% |
| 2025 | +10.4% | +8.9% |
| 2026 | +7.3% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTE and PNW good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DTE and PNW?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.87 over the last year and 0.73 over 5 years.
Is PNW a good diversifier for DTE?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 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/dte-vs-pnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dte-vs-pnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DTE correlations · PNW correlations
