FE vs PPL: Correlation
How closely do FirstEnergy (FE) and PPL Corporation (PPL) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FE and PPL?
Over the past 3 years, FE and PPL moved with a correlation of 0.77, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.88 versus 0.77 over 3 years. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 235.8 %².
PPL is one of the assets that tracks FE most closely: it ranks #1 out of the 32 assets we track against FE. Over the last 12 months FE came out ahead by 12.9 percentage points (+9.9% against -3.0%). The rolling one-year correlation moved between 0.53 and 0.88 over the past three years, a moderate range.
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 PPL: side by side
| FE (FirstEnergy) | PPL (PPL Corporation) | |
|---|---|---|
| 1-year return | +9.9% | -3.0% |
| 5-year return | +46.7% | +41.1% |
| Volatility (ann.) | 17.6% | 17.4% |
| Beta vs S&P 500 | 0.04 | 0.13 |
| Max drawdown (3Y) | -14.7% | -13.3% |
| Market cap | $26.8B | $25.9B |
| P/E (trailing) | 25.0 | 20.7 |
| Dividend yield | 3.85% | 3.18% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | FE | PPL |
|---|---|---|
| 2022 | +4.8% | +0.4% |
| 2023 | -8.9% | -3.8% |
| 2024 | +13.2% | +24.0% |
| 2025 | +17.3% | +11.4% |
| 2026 | +6.4% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FE and PPL good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FE and PPL?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.88 over the last year and 0.78 over 5 years.
Is PPL a good diversifier for FE?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 mean?
A reading of 0.77 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-ppl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fe-vs-ppl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FE correlations · PPL correlations
