FE vs WEC: Correlation
Measured on weekly returns over the past three years, FirstEnergy (FE) and WEC Energy Group (WEC) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FE and WEC?
On 3 years of weekly data the FE/WEC correlation comes out at 0.67, strong. The link has tightened recently: the 1-year correlation (0.78) runs above the 3-year figure (0.67). The 5-year figure is 0.72, and annualized covariance runs at 198.2 %².
Among the 32 assets we track against FE, WEC ranks #14 by 3-year correlation. Over the last 12 months FE came out ahead by 7.8 percentage points (+9.9% against +2.1%). Across three years, the rolling one-year figure varied moderately, from 0.43 to 0.85.
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 WEC: side by side
| FE (FirstEnergy) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | +9.9% | +2.1% |
| 5-year return | +46.7% | +32.7% |
| Volatility (ann.) | 17.6% | 16.9% |
| Beta vs S&P 500 | 0.04 | 0.02 |
| Max drawdown (3Y) | -14.7% | -11.6% |
| Market cap | $26.8B | $34.6B |
| P/E (trailing) | 25.0 | 20.6 |
| Dividend yield | 3.85% | 3.43% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | FE | WEC |
|---|---|---|
| 2022 | +4.8% | -0.5% |
| 2023 | -8.9% | -7.0% |
| 2024 | +13.2% | +16.1% |
| 2025 | +17.3% | +16.0% |
| 2026 | +6.4% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FE and WEC good diversifiers for each other?
To a limited degree. At 0.67 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 FE and WEC?
The FE/WEC correlation stands at 0.67 on a 3-year window (1 year: 0.78, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is WEC a good diversifier for FE?
To a limited degree. At 0.67 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 0.67 mean?
On the −1 to +1 scale, 0.67 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fe-vs-wec.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fe-vs-wec/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FE correlations · WEC correlations
