EME vs PWR: Correlation
Emcor (EME) and Quanta Services (PWR) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EME and PWR?
On 3 years of weekly data the EME/PWR correlation comes out at 0.72, strong. The past 12 months show a weaker link (0.56) than the 3-year average (0.72). The 5-year figure is 0.67, and annualized covariance runs at 849.8 %².
In EME's tracked universe of 34 assets, PWR sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months PWR outperformed by 38.6 percentage points (+24.5% for EME against +63.1% for PWR). Across three years, the rolling one-year figure varied moderately, from 0.43 to 0.88.
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 PWR: side by side
| EME (Emcor) | PWR (Quanta Services) | |
|---|---|---|
| 1-year return | +24.5% | +63.1% |
| 5-year return | +540.3% | +506.1% |
| Volatility (ann.) | 34.9% | 33.9% |
| Beta vs S&P 500 | 1.31 | 1.29 |
| Max drawdown (3Y) | -36.2% | -33.9% |
| Market cap | $34.2B | $93.5B |
| P/E (trailing) | 23.8 | 70.4 |
| Dividend yield | 0.09% | 0.07% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | EME | PWR |
|---|---|---|
| 2022 | +16.8% | +24.6% |
| 2023 | +46.0% | +51.7% |
| 2024 | +111.3% | +46.6% |
| 2025 | +35.1% | +33.7% |
| 2026 | +26.9% | +47.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EME and PWR good diversifiers for each other?
To a limited degree. At 0.72 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between EME and PWR?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.56 over the last year and 0.67 over 5 years.
Is PWR a good diversifier for EME?
To a limited degree. At 0.72 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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/eme-vs-pwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eme-vs-pwr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EME correlations · PWR correlations
