LNT vs PNW: Correlation
How closely do Alliant Energy (LNT) and Pinnacle West Capital (PNW) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LNT and PNW?
Across a 3-year window, the weekly returns of LNT and PNW correlate at 0.76, strong. The relationship has been stable: the 1-year correlation (0.86) sits close to the 3-year figure. Stretching to 5 years gives 0.77, with an annualized covariance of 241.2 %².
Among the 43 assets we track against LNT, PNW ranks #11 by 3-year correlation. The trailing year gives PNW the advantage: +6.9% versus +12.4%, a 5.5-point spread. Stability stands out here, with the rolling one-year correlation confined to 0.60 through 0.84.
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 PNW: side by side
| LNT (Alliant Energy) | PNW (Pinnacle West Capital) | |
|---|---|---|
| 1-year return | +6.9% | +12.4% |
| 5-year return | +31.9% | +59.3% |
| Volatility (ann.) | 17.5% | 18.2% |
| Beta vs S&P 500 | 0.09 | 0.09 |
| Max drawdown (3Y) | -12.4% | -14.4% |
| Market cap | $17.7B | $11.9B |
| P/E (trailing) | 21.8 | 18.8 |
| Dividend yield | 3.03% | 3.67% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | LNT | PNW |
|---|---|---|
| 2022 | -7.4% | +13.0% |
| 2023 | -3.8% | -1.2% |
| 2024 | +19.5% | +23.5% |
| 2025 | +13.5% | +8.9% |
| 2026 | +7.4% | +13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LNT and PNW good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LNT and PNW?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.86 over the last year and 0.77 over 5 years.
Is PNW a good diversifier for LNT?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 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-pnw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lnt-vs-pnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LNT correlations · PNW correlations
