IDA vs SO: Correlation
Measured on weekly returns over the past three years, IDACORP, Inc. (IDA) and Southern Company (SO) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDA and SO?
Across a 3-year window, the weekly returns of IDA and SO correlate at 0.71, strong. Recent behaviour matches the longer record: 0.76 over 1 year against 0.71 over 3. Stretching to 5 years gives 0.75, with an annualized covariance of 207.5 %².
By 3-year correlation, SO places #8 of the 18 assets tracked against IDA. The trailing year gives IDA the advantage: +11.6% versus -1.4%, a 13.0-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.
IDA vs SO: side by side
| IDA (IDACORP, Inc.) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +11.6% | -1.4% |
| 5-year return | +51.7% | +62.6% |
| Volatility (ann.) | 17.8% | 16.5% |
| Beta vs S&P 500 | 0.10 | -0.02 |
| Max drawdown (3Y) | -13.6% | -15.0% |
| Market cap | $8.0B | $102.4B |
| P/E (trailing) | 22.9 | 21.7 |
| Dividend yield | 2.53% | 3.32% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | IDA | SO |
|---|---|---|
| 2022 | -2.1% | +8.2% |
| 2023 | -6.0% | +2.2% |
| 2024 | +15.0% | +21.7% |
| 2025 | +19.2% | +9.5% |
| 2026 | +10.9% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDA and SO good diversifiers for each other?
To a limited degree. At 0.71 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 IDA and SO?
The IDA/SO correlation stands at 0.71 on a 3-year window (1 year: 0.76, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is SO a good diversifier for IDA?
To a limited degree. At 0.71 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 0.71 mean?
A reading of 0.71 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
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Related comparisons
Hubs: IDA correlations · SO correlations
