NWE vs POR: Correlation
How closely do NorthWestern Energy Group, Inc. (NWE) and Portland General Electric Co (POR) trade together? Their weekly returns over three years give a correlation of 0.73, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWE and POR?
On 3 years of weekly data the NWE/POR correlation comes out at 0.73, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.73 over 3. The 5-year figure is 0.73, and annualized covariance runs at 283.7 %².
POR is one of the assets that tracks NWE most closely: it ranks #3 out of the 13 assets we track against NWE. The trailing year gives NWE the advantage: +28.5% versus +21.0%, a 7.5-point spread.
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.
NWE vs POR: side by side
| NWE (NorthWestern Energy Group, Inc.) | POR (Portland General Electric Co) | |
|---|---|---|
| 1-year return | +28.5% | +21.0% |
| 5-year return | +41.5% | +20.7% |
| Volatility (ann.) | 20.9% | 18.5% |
| Beta vs S&P 500 | 0.26 | 0.10 |
| Max drawdown (3Y) | -13.6% | -16.3% |
| Market cap | $4.4B | $5.9B |
| P/E (trailing) | 25.6 | 22.2 |
| Dividend yield | 3.72% | 4.24% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWE | POR |
|---|---|---|
| 2022 | +8.5% | -4.0% |
| 2023 | -10.1% | -7.7% |
| 2024 | +10.5% | +5.3% |
| 2025 | +26.4% | +15.4% |
| 2026 | +13.2% | +6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWE and POR good diversifiers for each other?
Only partially. A correlation of 0.73 means NWE and POR 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 NWE and POR?
As of 2026-08-27, the correlation of weekly returns between NWE and POR is 0.73 over 3 years, 0.66 over 1 year and 0.73 over 5 years.
Is POR a good diversifier for NWE?
Only partially. A correlation of 0.73 means NWE and POR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 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/nwe-vs-por.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nwe-vs-por/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NWE correlations · POR correlations
