FE vs PEG: Correlation
How closely do FirstEnergy (FE) and Public Service Enterprise Group (PEG) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FE and PEG?
Across a 3-year window, the weekly returns of FE and PEG correlate at 0.64, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 211.1 %².
Within FE's tracked universe of 32 assets, PEG comes in at #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FE ahead by 18.5 points (+9.9% versus -8.6%). On a rolling one-year basis the correlation drifted between 0.44 and 0.83, a moderate band.
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.
FE vs PEG: side by side
| FE (FirstEnergy) | PEG (Public Service Enterprise Group) | |
|---|---|---|
| 1-year return | +9.9% | -8.6% |
| 5-year return | +46.7% | +34.9% |
| Volatility (ann.) | 17.6% | 18.9% |
| Beta vs S&P 500 | 0.04 | 0.25 |
| Max drawdown (3Y) | -14.7% | -18.8% |
| Market cap | $26.8B | $36.5B |
| P/E (trailing) | 25.0 | 18.4 |
| Dividend yield | 3.85% | 3.51% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | FE | PEG |
|---|---|---|
| 2022 | +4.8% | -5.1% |
| 2023 | -8.9% | +3.6% |
| 2024 | +13.2% | +42.6% |
| 2025 | +17.3% | -1.9% |
| 2026 | +6.4% | -7.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FE and PEG good diversifiers for each other?
Only partially. A correlation of 0.64 means FE and PEG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FE and PEG?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.72 over the last year and 0.72 over 5 years.
Is PEG a good diversifier for FE?
Only partially. A correlation of 0.64 means FE and PEG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
A reading of 0.64 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/fe-vs-peg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fe-vs-peg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FE correlations · PEG correlations
