KR vs PNW: Correlation
How closely do Kroger (KR) and Pinnacle West Capital (PNW) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KR and PNW?
On 3 years of weekly data the KR/PNW correlation comes out at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 164.6 %².
Among the 55 assets we track against KR, PNW ranks #4 by 3-year correlation. The last year tells two different stories: PNW led by 26.8 percentage points, -14.4% for KR against +12.4% for PNW. On a rolling one-year basis the correlation drifted between 0.17 and 0.58, a moderate band.
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.
KR vs PNW: side by side
| KR (Kroger) | PNW (Pinnacle West Capital) | |
|---|---|---|
| 1-year return | -14.4% | +12.4% |
| 5-year return | +37.3% | +59.3% |
| Volatility (ann.) | 23.4% | 18.2% |
| Beta vs S&P 500 | -0.16 | 0.09 |
| Max drawdown (3Y) | -26.2% | -14.4% |
| Market cap | – | $11.9B |
| P/E (trailing) | 33.3 | 18.8 |
| Dividend yield | 1.79% | 3.67% |
| Sector / category | Consumer Staples | Utilities |
Year-by-year returns
| Year | KR | PNW |
|---|---|---|
| 2022 | +0.4% | +13.0% |
| 2023 | +5.0% | -1.2% |
| 2024 | +36.9% | +23.5% |
| 2025 | +4.3% | +8.9% |
| 2026 | -7.3% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KR and PNW good diversifiers for each other?
Reasonably. At 0.39, KR and PNW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between KR and PNW?
The KR/PNW correlation stands at 0.39 on a 3-year window (1 year: 0.49, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is PNW a good diversifier for KR?
Reasonably. At 0.39, KR and PNW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kr-vs-pnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kr-vs-pnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KR correlations · PNW correlations
