DUK vs PNW: Correlation
How closely do Duke Energy (DUK) and Pinnacle West Capital (PNW) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUK and PNW?
On 3 years of weekly data the DUK/PNW correlation comes out at 0.73, strong. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. The 5-year figure is 0.73, and annualized covariance runs at 210.6 %².
By 3-year correlation, PNW places #13 of the 53 assets tracked against DUK. On 12-month performance PNW holds a 11.3-point edge, +1.1% against +12.4%. On a rolling one-year basis the correlation drifted between 0.56 and 0.82, a moderate band.
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 PNW: side by side
| DUK (Duke Energy) | PNW (Pinnacle West Capital) | |
|---|---|---|
| 1-year return | +1.1% | +12.4% |
| 5-year return | +39.8% | +59.3% |
| Volatility (ann.) | 15.9% | 18.2% |
| Beta vs S&P 500 | -0.09 | 0.09 |
| Max drawdown (3Y) | -11.6% | -14.4% |
| Market cap | $94.2B | $11.9B |
| P/E (trailing) | 18.3 | 18.8 |
| Dividend yield | 3.49% | 3.67% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | DUK | PNW |
|---|---|---|
| 2022 | +2.0% | +13.0% |
| 2023 | -1.6% | -1.2% |
| 2024 | +15.6% | +23.5% |
| 2025 | +12.7% | +8.9% |
| 2026 | +5.8% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUK and PNW good diversifiers for each other?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DUK and PNW?
The DUK/PNW correlation stands at 0.73 on a 3-year window (1 year: 0.80, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is PNW a good diversifier for DUK?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.73 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-pnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/duk-vs-pnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DUK correlations · PNW correlations
