LNT vs MGEE: Correlation
Alliant Energy (LNT) and MGE Energy Inc. (MGEE) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LNT and MGEE?
Over the past 3 years, LNT and MGEE moved with a correlation of 0.55, which is moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 263.3 %².
Among the 43 assets we track against LNT, MGEE ranks #26 by 3-year correlation. The last year tells two different stories: LNT led by 15.2 percentage points, +6.9% for LNT against -8.3% for MGEE. One caveat on sizing: MGEE is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LNT vs MGEE: side by side
| LNT (Alliant Energy) | MGEE (MGE Energy Inc.) | |
|---|---|---|
| 1-year return | +6.9% | -8.3% |
| 5-year return | +31.9% | +8.2% |
| Volatility (ann.) | 17.5% | 27.4% |
| Beta vs S&P 500 | 0.09 | 0.26 |
| Max drawdown (3Y) | -12.4% | -30.9% |
| Market cap | $17.7B | $3.0B |
| P/E (trailing) | 21.8 | 19.5 |
| Dividend yield | 3.03% | 2.39% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | LNT | MGEE |
|---|---|---|
| 2022 | -7.4% | -12.6% |
| 2023 | -3.8% | +5.1% |
| 2024 | +19.5% | +32.8% |
| 2025 | +13.5% | -14.7% |
| 2026 | +7.4% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LNT and MGEE good diversifiers for each other?
Only partially. A correlation of 0.55 means LNT and MGEE 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 LNT and MGEE?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.58 over the last year and 0.63 over 5 years.
Is MGEE a good diversifier for LNT?
Only partially. A correlation of 0.55 means LNT and MGEE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/lnt-vs-mgee.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lnt-vs-mgee/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LNT correlations · MGEE correlations
