EME vs POWL: Correlation
How closely do Emcor (EME) and Powell Industries, Inc. (POWL) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EME and POWL?
On 3 years of weekly data the EME/POWL correlation comes out at 0.58, moderate. Recent behaviour matches the longer record: 0.58 over 1 year against 0.58 over 3. The 5-year figure is 0.48, and annualized covariance runs at 1442.5 %².
By 3-year correlation, POWL places #13 of the 34 assets tracked against EME. Correlation aside, the last 12 months split them widely, with POWL ahead by 86.5 points (+24.5% versus +111.0%). Note the risk asymmetry: POWL runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EME vs POWL: side by side
| EME (Emcor) | POWL (Powell Industries, Inc.) | |
|---|---|---|
| 1-year return | +24.5% | +111.0% |
| 5-year return | +540.3% | +2360.3% |
| Volatility (ann.) | 34.9% | 71.5% |
| Beta vs S&P 500 | 1.31 | 1.95 |
| Max drawdown (3Y) | -36.2% | -55.8% |
| Market cap | $34.2B | $7.0B |
| P/E (trailing) | 23.8 | 36.8 |
| Dividend yield | 0.09% | 0.19% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | EME | POWL |
|---|---|---|
| 2022 | +16.8% | +24.3% |
| 2023 | +46.0% | +155.6% |
| 2024 | +111.3% | +152.2% |
| 2025 | +35.1% | +44.5% |
| 2026 | +26.9% | +81.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EME and POWL good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EME and POWL?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.58 over the last year and 0.48 over 5 years.
Is POWL a good diversifier for EME?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eme-vs-powl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eme-vs-powl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EME correlations · POWL correlations
