IDA vs WEC: Correlation
How closely do IDACORP, Inc. (IDA) and WEC Energy Group (WEC) 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 IDA and WEC?
Over the past 3 years, IDA and WEC moved with a correlation of 0.77, which is strong. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 230.1 %².
Among the 18 assets we track against IDA, WEC ranks #4 by 3-year correlation. On 12-month performance IDA holds a 9.5-point edge, +11.6% against +2.1%.
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 WEC: side by side
| IDA (IDACORP, Inc.) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | +11.6% | +2.1% |
| 5-year return | +51.7% | +32.7% |
| Volatility (ann.) | 17.8% | 16.9% |
| Beta vs S&P 500 | 0.10 | 0.02 |
| Max drawdown (3Y) | -13.6% | -11.6% |
| Market cap | $8.0B | $34.6B |
| P/E (trailing) | 22.9 | 20.6 |
| Dividend yield | 2.53% | 3.43% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | IDA | WEC |
|---|---|---|
| 2022 | -2.1% | -0.5% |
| 2023 | -6.0% | -7.0% |
| 2024 | +15.0% | +16.1% |
| 2025 | +19.2% | +16.0% |
| 2026 | +10.9% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDA and WEC good diversifiers for each other?
Only partially. A correlation of 0.77 means IDA and WEC 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 IDA and WEC?
The IDA/WEC correlation stands at 0.77 on a 3-year window (1 year: 0.84, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is WEC a good diversifier for IDA?
Only partially. A correlation of 0.77 means IDA and WEC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 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: IDA correlations · WEC correlations
