LNT vs XEL: Correlation
Alliant Energy (LNT) and Xcel Energy (XEL) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LNT and XEL?
On 3 years of weekly data the LNT/XEL correlation comes out at 0.72, strong. The link has tightened recently: the 1-year correlation (0.83) runs above the 3-year figure (0.72). The 5-year figure is 0.80, and annualized covariance runs at 261.2 %².
Within LNT's tracked universe of 43 assets, XEL comes in at #19 by 3-year correlation. Their 12-month results are close: +6.9% for LNT against +9.2% for XEL. On a rolling one-year basis the correlation drifted between 0.52 and 0.92, 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.
LNT vs XEL: side by side
| LNT (Alliant Energy) | XEL (Xcel Energy) | |
|---|---|---|
| 1-year return | +6.9% | +9.2% |
| 5-year return | +31.9% | +31.1% |
| Volatility (ann.) | 17.5% | 20.7% |
| Beta vs S&P 500 | 0.09 | 0.09 |
| Max drawdown (3Y) | -12.4% | -24.0% |
| Market cap | $17.7B | $48.2B |
| P/E (trailing) | 21.8 | 21.3 |
| Dividend yield | 3.03% | 2.99% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | LNT | XEL |
|---|---|---|
| 2022 | -7.4% | +6.4% |
| 2023 | -3.8% | -8.7% |
| 2024 | +19.5% | +12.3% |
| 2025 | +13.5% | +13.9% |
| 2026 | +7.4% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LNT and XEL good diversifiers for each other?
Only partially. A correlation of 0.72 means LNT and XEL 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 XEL?
As of 2026-08-27, the correlation of weekly returns between LNT and XEL is 0.72 over 3 years, 0.83 over 1 year and 0.80 over 5 years.
Is XEL a good diversifier for LNT?
Only partially. A correlation of 0.72 means LNT and XEL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 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-xel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lnt-vs-xel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LNT correlations · XEL correlations
