EVRG vs WEC: Correlation
Measured on weekly returns over the past three years, Evergy (EVRG) and WEC Energy Group (WEC) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVRG and WEC?
On 3 years of weekly data the EVRG/WEC correlation comes out at 0.79, strong. Little has changed lately, as the 1-year reading of 0.85 lands near the 3-year figure. The 5-year figure is 0.81, and annualized covariance runs at 237.4 %².
Within EVRG's tracked universe of 44 assets, WEC comes in at #8 by 3-year correlation. The trailing year gives EVRG the advantage: +16.9% versus +2.1%, a 14.8-point spread. Across three years, the rolling one-year figure varied moderately, from 0.59 to 0.86.
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 WEC: side by side
| EVRG (Evergy) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | +16.9% | +2.1% |
| 5-year return | +46.3% | +32.7% |
| Volatility (ann.) | 17.9% | 16.9% |
| Beta vs S&P 500 | 0.13 | 0.02 |
| Max drawdown (3Y) | -15.8% | -11.6% |
| Market cap | $18.8B | $34.6B |
| P/E (trailing) | 20.9 | 20.6 |
| Dividend yield | 3.35% | 3.43% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | EVRG | WEC |
|---|---|---|
| 2022 | -4.9% | -0.5% |
| 2023 | -13.3% | -7.0% |
| 2024 | +23.4% | +16.1% |
| 2025 | +22.4% | +16.0% |
| 2026 | +15.2% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVRG and WEC good diversifiers for each other?
To a limited degree. At 0.79 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 EVRG and WEC?
The EVRG/WEC correlation stands at 0.79 on a 3-year window (1 year: 0.85, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is WEC a good diversifier for EVRG?
To a limited degree. At 0.79 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 0.79 mean?
A reading of 0.79 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 · WEC correlations
