PNW vs SPT: Correlation
Pinnacle West Capital (PNW) and Sprout Social, Inc (SPT) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNW and SPT?
Across a 3-year window, the weekly returns of PNW and SPT correlate at -0.18, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.18 over 3. Stretching to 5 years gives 0.02, with an annualized covariance of -185.9 %².
Within PNW's tracked universe of 36 assets, SPT comes in at #28 by 3-year correlation. The last year tells two different stories: PNW led by 42.0 percentage points, +12.4% for PNW against -29.6% for SPT. Risk is not evenly split, since SPT carries 3.0 times the volatility of the other side.
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.
PNW vs SPT: side by side
| PNW (Pinnacle West Capital) | SPT (Sprout Social, Inc) | |
|---|---|---|
| 1-year return | +12.4% | -29.6% |
| 5-year return | +59.3% | -91.0% |
| Volatility (ann.) | 18.2% | 55.5% |
| Beta vs S&P 500 | 0.09 | 1.43 |
| Max drawdown (3Y) | -14.4% | -92.5% |
| Market cap | $11.9B | $0.7B |
| P/E (trailing) | 18.8 | – |
| Dividend yield | 3.67% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | PNW | SPT |
|---|---|---|
| 2022 | +13.0% | -37.7% |
| 2023 | -1.2% | +8.8% |
| 2024 | +23.5% | -50.0% |
| 2025 | +8.9% | -63.3% |
| 2026 | +13.5% | -2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNW and SPT good diversifiers for each other?
Yes. With a correlation of -0.18, PNW and SPT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PNW and SPT?
The PNW/SPT correlation stands at -0.18 on a 3-year window (1 year: -0.20, 5 years: 0.02), computed from weekly returns as of 2026-08-27.
Is SPT a good diversifier for PNW?
Yes. With a correlation of -0.18, PNW and SPT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 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/pnw-vs-spt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pnw-vs-spt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PNW correlations · SPT correlations
