ES vs PPL: Correlation
Eversource Energy (ES) and PPL Corporation (PPL) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ES and PPL?
Across a 3-year window, the weekly returns of ES and PPL correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. Stretching to 5 years gives 0.70, with an annualized covariance of 247.4 %².
By 3-year correlation, PPL places #9 of the 28 assets tracked against ES. Their recent paths diverged sharply: over the last 12 months ES outperformed by 17.5 percentage points (+14.5% for ES against -3.0% for PPL). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.34 to 0.87.
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.
ES vs PPL: side by side
| ES (Eversource Energy) | PPL (PPL Corporation) | |
|---|---|---|
| 1-year return | +14.5% | -3.0% |
| 5-year return | -5.0% | +41.1% |
| Volatility (ann.) | 22.9% | 17.4% |
| Beta vs S&P 500 | 0.20 | 0.13 |
| Max drawdown (3Y) | -18.8% | -13.3% |
| Market cap | $26.7B | $25.9B |
| P/E (trailing) | 18.6 | 20.7 |
| Dividend yield | 4.30% | 3.18% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ES | PPL |
|---|---|---|
| 2022 | -5.1% | +0.4% |
| 2023 | -23.4% | -3.8% |
| 2024 | -2.5% | +24.0% |
| 2025 | +22.9% | +11.4% |
| 2026 | +7.7% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ES and PPL good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ES and PPL?
The ES/PPL correlation stands at 0.62 on a 3-year window (1 year: 0.62, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is PPL a good diversifier for ES?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 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/es-vs-ppl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/es-vs-ppl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ES correlations · PPL correlations
