FTS vs SO: Correlation
How closely do Fortis Inc. (FTS) and Southern Company (SO) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTS and SO?
Over the past 3 years, FTS and SO moved with a correlation of 0.70, which is strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 169.5 %².
By 3-year correlation, SO places #5 of the 14 assets tracked against FTS. The trailing year gives FTS the advantage: +12.4% versus -1.4%, a 13.8-point spread.
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.
FTS vs SO: side by side
| FTS (Fortis Inc.) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +12.4% | -1.4% |
| 5-year return | +43.4% | +62.6% |
| Volatility (ann.) | 14.6% | 16.5% |
| Beta vs S&P 500 | 0.04 | -0.02 |
| Max drawdown (3Y) | -11.6% | -15.0% |
| Market cap | $28.0B | $102.4B |
| P/E (trailing) | 22.5 | 21.7 |
| Dividend yield | 4.58% | 3.32% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | FTS | SO |
|---|---|---|
| 2022 | -13.9% | +8.2% |
| 2023 | +7.0% | +2.2% |
| 2024 | +5.4% | +21.7% |
| 2025 | +28.5% | +9.5% |
| 2026 | +8.3% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTS and SO good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FTS and SO?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.77 over the last year and 0.73 over 5 years.
Is SO a good diversifier for FTS?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: FTS correlations · SO correlations
