DTE vs XEL: Correlation
How closely do DTE Energy (DTE) and Xcel Energy (XEL) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTE and XEL?
Over the past 3 years, DTE and XEL moved with a correlation of 0.63, which is strong. The link has tightened recently: the 1-year correlation (0.80) runs above the 3-year figure (0.63). Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 222.5 %².
Among the 44 assets we track against DTE, XEL ranks #23 by 3-year correlation. On 12-month performance XEL holds a 7.5-point edge, +1.7% against +9.2%. The rolling one-year correlation moved between 0.42 and 0.90 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.
DTE vs XEL: side by side
| DTE (DTE Energy) | XEL (Xcel Energy) | |
|---|---|---|
| 1-year return | +1.7% | +9.2% |
| 5-year return | +33.3% | +31.1% |
| Volatility (ann.) | 17.1% | 20.7% |
| Beta vs S&P 500 | 0.07 | 0.09 |
| Max drawdown (3Y) | -12.4% | -24.0% |
| Market cap | $28.3B | $48.2B |
| P/E (trailing) | 21.8 | 21.3 |
| Dividend yield | 3.39% | 2.99% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | DTE | XEL |
|---|---|---|
| 2022 | +1.2% | +6.4% |
| 2023 | -2.8% | -8.7% |
| 2024 | +13.5% | +12.3% |
| 2025 | +10.4% | +13.9% |
| 2026 | +7.3% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTE and XEL good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DTE and XEL?
As of 2026-08-27, the correlation of weekly returns between DTE and XEL is 0.63 over 3 years, 0.80 over 1 year and 0.75 over 5 years.
Is XEL a good diversifier for DTE?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 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/dte-vs-xel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dte-vs-xel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DTE correlations · XEL correlations
