NEE vs PAPL: Correlation
Measured on weekly returns over the past three years, NextEra Energy (NEE) and Pineapple Financial Inc. (PAPL) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEE and PAPL?
On 3 years of weekly data the NEE/PAPL correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.02) runs above the 3-year figure (-0.20). The 5-year figure is n/a, and annualized covariance runs at -843.3 %².
Among the 29 assets we track against NEE, PAPL ranks #21 by 3-year correlation. The last year tells two different stories: NEE led by 86.9 percentage points, +16.2% for NEE against -70.7% for PAPL. One caveat on sizing: PAPL is 6.8 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.
NEE vs PAPL: side by side
| NEE (NextEra Energy) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | +16.2% | -70.7% |
| 5-year return | +12.9% | n/a |
| Volatility (ann.) | 26.5% | 181.2% |
| Beta vs S&P 500 | 0.28 | -0.73 |
| Max drawdown (3Y) | -28.8% | -99.4% |
| Market cap | $174.1B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.82% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | NEE | PAPL |
|---|---|---|
| 2022 | -8.5% | – |
| 2023 | -25.3% | – |
| 2024 | +21.5% | -74.7% |
| 2025 | +15.5% | -84.4% |
| 2026 | +5.4% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEE and PAPL good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NEE and PAPL?
The NEE/PAPL correlation stands at -0.20 on a 3-year window (1 year: 0.02, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PAPL a good diversifier for NEE?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 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/nee-vs-papl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nee-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NEE correlations · PAPL correlations
