PNW vs SRE: Correlation
Measured on weekly returns over the past three years, Pinnacle West Capital (PNW) and Sempra (SRE) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNW and SRE?
Over the past 3 years, PNW and SRE moved with a correlation of 0.59, which is moderate. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 256.2 %².
By 3-year correlation, SRE places #20 of the 36 assets tracked against PNW. The trailing year gives PNW the advantage: +12.4% versus +6.0%, a 6.4-point spread. The rolling one-year correlation moved between 0.31 and 0.77 over the past three years, a moderate range.
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 SRE: side by side
| PNW (Pinnacle West Capital) | SRE (Sempra) | |
|---|---|---|
| 1-year return | +12.4% | +6.0% |
| 5-year return | +59.3% | +50.4% |
| Volatility (ann.) | 18.2% | 23.9% |
| Beta vs S&P 500 | 0.09 | 0.38 |
| Max drawdown (3Y) | -14.4% | -31.6% |
| Market cap | $11.9B | $55.4B |
| P/E (trailing) | 18.8 | 24.7 |
| Dividend yield | 3.67% | 3.06% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | PNW | SRE |
|---|---|---|
| 2022 | +13.0% | +20.3% |
| 2023 | -1.2% | -0.1% |
| 2024 | +23.5% | +21.1% |
| 2025 | +8.9% | +3.9% |
| 2026 | +13.5% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PNW and SRE good diversifiers for each other?
Only partially. A correlation of 0.59 means PNW and SRE 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 PNW and SRE?
The PNW/SRE correlation stands at 0.59 on a 3-year window (1 year: 0.66, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is SRE a good diversifier for PNW?
Only partially. A correlation of 0.59 means PNW and SRE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pnw-vs-sre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pnw-vs-sre/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PNW correlations · SRE correlations
