DUK vs EMA: Correlation
How closely do Duke Energy (DUK) and Emera Incorporated (EMA) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUK and EMA?
Over the past 3 years, DUK and EMA moved with a correlation of 0.62, which is strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.62 over 3. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 171.1 %².
Within DUK's tracked universe of 53 assets, EMA comes in at #18 by 3-year correlation. On 12-month performance EMA holds a 6.4-point edge, +1.1% against +7.5%.
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.
DUK vs EMA: side by side
| DUK (Duke Energy) | EMA (Emera Incorporated) | |
|---|---|---|
| 1-year return | +1.1% | +7.5% |
| 5-year return | +39.8% | +34.4% |
| Volatility (ann.) | 15.9% | 17.4% |
| Beta vs S&P 500 | -0.09 | 0.10 |
| Max drawdown (3Y) | -11.6% | -19.6% |
| Market cap | $94.2B | $15.4B |
| P/E (trailing) | 18.3 | 22.2 |
| Dividend yield | 3.49% | 5.77% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | DUK | EMA |
|---|---|---|
| 2022 | +2.0% | -19.3% |
| 2023 | -1.6% | +3.5% |
| 2024 | +15.6% | +6.3% |
| 2025 | +12.7% | +36.6% |
| 2026 | +5.8% | +3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUK and EMA good diversifiers for each other?
Only partially. A correlation of 0.62 means DUK and EMA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DUK and EMA?
The DUK/EMA correlation stands at 0.62 on a 3-year window (1 year: 0.65, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is EMA a good diversifier for DUK?
Only partially. A correlation of 0.62 means DUK and EMA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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/duk-vs-ema.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/duk-vs-ema/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DUK correlations · EMA correlations
