PBA vs WMB: Correlation
How closely do Pembina Pipeline Corp. (PBA) and Williams Companies (WMB) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBA and WMB?
Across a 3-year window, the weekly returns of PBA and WMB correlate at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. Stretching to 5 years gives 0.68, with an annualized covariance of 276.5 %².
Within PBA's tracked universe of 13 assets, WMB comes in at #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +31.4% for PBA and +33.1% for WMB.
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.
PBA vs WMB: side by side
| PBA (Pembina Pipeline Corp.) | WMB (Williams Companies) | |
|---|---|---|
| 1-year return | +31.4% | +33.1% |
| 5-year return | +98.2% | +279.9% |
| Volatility (ann.) | 20.0% | 24.0% |
| Beta vs S&P 500 | 0.08 | 0.34 |
| Max drawdown (3Y) | -17.9% | -12.4% |
| Market cap | $28.1B | $90.7B |
| P/E (trailing) | 23.7 | 29.7 |
| Dividend yield | 5.93% | 2.76% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | PBA | WMB |
|---|---|---|
| 2022 | +18.3% | +32.8% |
| 2023 | +7.8% | +11.9% |
| 2024 | +13.2% | +62.3% |
| 2025 | +5.7% | +14.9% |
| 2026 | +30.0% | +25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBA and WMB good diversifiers for each other?
Only partially. A correlation of 0.58 means PBA and WMB 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 PBA and WMB?
The PBA/WMB correlation stands at 0.58 on a 3-year window (1 year: 0.57, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is WMB a good diversifier for PBA?
Only partially. A correlation of 0.58 means PBA and WMB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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: PBA correlations · WMB correlations
