EVRG vs FE: Correlation
Evergy (EVRG) and FirstEnergy (FE) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVRG and FE?
Across a 3-year window, the weekly returns of EVRG and FE correlate at 0.71, strong. The past 12 months show a tighter link (0.81) than the 3-year average (0.71). Stretching to 5 years gives 0.73, with an annualized covariance of 223.7 %².
Within EVRG's tracked universe of 44 assets, FE comes in at #19 by 3-year correlation. The trailing year gives EVRG the advantage: +16.9% versus +9.9%, a 7.0-point spread. Across three years, the rolling one-year figure varied moderately, from 0.47 to 0.82.
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.
EVRG vs FE: side by side
| EVRG (Evergy) | FE (FirstEnergy) | |
|---|---|---|
| 1-year return | +16.9% | +9.9% |
| 5-year return | +46.3% | +46.7% |
| Volatility (ann.) | 17.9% | 17.6% |
| Beta vs S&P 500 | 0.13 | 0.04 |
| Max drawdown (3Y) | -15.8% | -14.7% |
| Market cap | $18.8B | $26.8B |
| P/E (trailing) | 20.9 | 25.0 |
| Dividend yield | 3.35% | 3.85% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | EVRG | FE |
|---|---|---|
| 2022 | -4.9% | +4.8% |
| 2023 | -13.3% | -8.9% |
| 2024 | +23.4% | +13.2% |
| 2025 | +22.4% | +17.3% |
| 2026 | +15.2% | +6.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVRG and FE good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EVRG and FE?
As of 2026-08-27, the correlation of weekly returns between EVRG and FE is 0.71 over 3 years, 0.81 over 1 year and 0.73 over 5 years.
Is FE a good diversifier for EVRG?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
A reading of 0.71 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EVRG correlations · FE correlations
