MO vs SO: Correlation
Altria (MO) and Southern Company (SO) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MO and SO?
On 3 years of weekly data the MO/SO correlation comes out at 0.44, moderate. The link has tightened recently: the 1-year correlation (0.56) runs above the 3-year figure (0.44). The 5-year figure is 0.37, and annualized covariance runs at 158.6 %².
By 3-year correlation, SO places #14 of the 49 assets tracked against MO. The trailing year gives MO the advantage: +8.8% versus -1.4%, a 10.2-point spread. Across three years, the rolling one-year figure varied moderately, from 0.15 to 0.58.
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.
MO vs SO: side by side
| MO (Altria) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +8.8% | -1.4% |
| 5-year return | +100.4% | +62.6% |
| Volatility (ann.) | 21.8% | 16.5% |
| Beta vs S&P 500 | -0.07 | -0.02 |
| Max drawdown (3Y) | -16.4% | -15.0% |
| Market cap | $113.0B | $102.4B |
| P/E (trailing) | 14.6 | 21.7 |
| Dividend yield | 6.13% | 3.32% |
| Sector / category | Consumer Staples | Utilities |
Year-by-year returns
| Year | MO | SO |
|---|---|---|
| 2022 | +4.4% | +8.2% |
| 2023 | -3.7% | +2.2% |
| 2024 | +40.8% | +21.7% |
| 2025 | +18.2% | +9.5% |
| 2026 | +21.1% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MO and SO good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MO and SO?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.56 over the last year and 0.37 over 5 years.
Is SO a good diversifier for MO?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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.
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Related comparisons
Hubs: MO correlations · SO correlations
