EVRG vs PNW: Correlation
How closely do Evergy (EVRG) and Pinnacle West Capital (PNW) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVRG and PNW?
Across a 3-year window, the weekly returns of EVRG and PNW correlate at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.86) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 262.2 %².
By 3-year correlation, PNW places #4 of the 44 assets tracked against EVRG. Their 12-month results are close: +16.9% for EVRG against +12.4% for PNW. Across three years, the rolling one-year figure varied moderately, from 0.53 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.
EVRG vs PNW: side by side
| EVRG (Evergy) | PNW (Pinnacle West Capital) | |
|---|---|---|
| 1-year return | +16.9% | +12.4% |
| 5-year return | +46.3% | +59.3% |
| Volatility (ann.) | 17.9% | 18.2% |
| Beta vs S&P 500 | 0.13 | 0.09 |
| Max drawdown (3Y) | -15.8% | -14.4% |
| Market cap | $18.8B | $11.9B |
| P/E (trailing) | 20.9 | 18.8 |
| Dividend yield | 3.35% | 3.67% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | EVRG | PNW |
|---|---|---|
| 2022 | -4.9% | +13.0% |
| 2023 | -13.3% | -1.2% |
| 2024 | +23.4% | +23.5% |
| 2025 | +22.4% | +8.9% |
| 2026 | +15.2% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVRG and PNW good diversifiers for each other?
No. With a correlation of 0.81, EVRG and PNW move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between EVRG and PNW?
The EVRG/PNW correlation stands at 0.81 on a 3-year window (1 year: 0.86, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is PNW a good diversifier for EVRG?
No. With a correlation of 0.81, EVRG and PNW move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
A reading of 0.81 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/evrg-vs-pnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evrg-vs-pnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVRG correlations · PNW correlations
