PCG vs PPL: Correlation
How closely do PG&E Corporation (PCG) and PPL Corporation (PPL) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCG and PPL?
Over the past 3 years, PCG and PPL moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 223.7 %².
Within PCG's tracked universe of 30 assets, PPL comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PCG outperformed by 23.3 percentage points (+20.3% for PCG against -3.0% for PPL). Across three years, the rolling one-year figure varied moderately, from 0.28 to 0.72.
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.
PCG vs PPL: side by side
| PCG (PG&E Corporation) | PPL (PPL Corporation) | |
|---|---|---|
| 1-year return | +20.3% | -3.0% |
| 5-year return | +102.7% | +41.1% |
| Volatility (ann.) | 24.7% | 17.4% |
| Beta vs S&P 500 | 0.24 | 0.13 |
| Max drawdown (3Y) | -39.6% | -13.3% |
| Market cap | $39.5B | $25.9B |
| P/E (trailing) | 12.9 | 20.7 |
| Dividend yield | 0.96% | 3.18% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | PCG | PPL |
|---|---|---|
| 2022 | +33.9% | +0.4% |
| 2023 | +10.9% | -3.8% |
| 2024 | +12.3% | +24.0% |
| 2025 | -19.7% | +11.4% |
| 2026 | +12.3% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCG and PPL good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PCG and PPL?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.59 over the last year and 0.43 over 5 years.
Is PPL a good diversifier for PCG?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/pcg-vs-ppl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pcg-vs-ppl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PCG correlations · PPL correlations
