PEW vs PPL: Correlation
Measured on weekly returns over the past three years, GrabAGun Digital Holdings Inc. (PEW) and PPL Corporation (PPL) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEW and PPL?
Over the past 3 years, PEW and PPL moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -195.7 %².
Within PEW's tracked universe of 24 assets, PPL comes in at #14 by 3-year correlation. The last year tells two different stories: PPL led by 54.1 percentage points, -57.1% for PEW against -3.0% for PPL. Note the risk asymmetry: PEW runs 2.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PEW vs PPL: side by side
| PEW (GrabAGun Digital Holdings Inc.) | PPL (PPL Corporation) | |
|---|---|---|
| 1-year return | -57.1% | -3.0% |
| 5-year return | n/a | +41.1% |
| Volatility (ann.) | 51.2% | 17.4% |
| Beta vs S&P 500 | 0.44 | 0.13 |
| Max drawdown (3Y) | -86.8% | -13.3% |
| Market cap | $0.1B | $25.9B |
| P/E (trailing) | – | 20.7 |
| Dividend yield | 0.00% | 3.18% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | PEW | PPL |
|---|---|---|
| 2022 | – | +0.4% |
| 2023 | – | -3.8% |
| 2024 | – | +24.0% |
| 2025 | -74.4% | +11.4% |
| 2026 | -21.6% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEW and PPL good diversifiers for each other?
Yes. With a correlation of -0.22, PEW and PPL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PEW and PPL?
The PEW/PPL correlation stands at -0.22 on a 3-year window (1 year: -0.29, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PPL a good diversifier for PEW?
Yes. With a correlation of -0.22, PEW and PPL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/pew-vs-ppl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pew-vs-ppl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PEW correlations · PPL correlations
