POR vs XEL: Correlation
Portland General Electric Co (POR) and Xcel Energy (XEL) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are POR and XEL?
Over the past 3 years, POR and XEL moved with a correlation of 0.64, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.64 over 3. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 243.0 %².
Among the 23 assets we track against POR, XEL ranks #12 by 3-year correlation. Over the last 12 months POR came out ahead by 11.8 percentage points (+21.0% against +9.2%).
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.
POR vs XEL: side by side
| POR (Portland General Electric Co) | XEL (Xcel Energy) | |
|---|---|---|
| 1-year return | +21.0% | +9.2% |
| 5-year return | +20.7% | +31.1% |
| Volatility (ann.) | 18.5% | 20.7% |
| Beta vs S&P 500 | 0.10 | 0.09 |
| Max drawdown (3Y) | -16.3% | -24.0% |
| Market cap | $5.9B | $48.2B |
| P/E (trailing) | 22.2 | 21.3 |
| Dividend yield | 4.24% | 2.99% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | POR | XEL |
|---|---|---|
| 2022 | -4.0% | +6.4% |
| 2023 | -7.7% | -8.7% |
| 2024 | +5.3% | +12.3% |
| 2025 | +15.4% | +13.9% |
| 2026 | +6.1% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are POR and XEL good diversifiers for each other?
To a limited degree. At 0.64 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 POR and XEL?
As of 2026-08-27, the correlation of weekly returns between POR and XEL is 0.64 over 3 years, 0.69 over 1 year and 0.68 over 5 years.
Is XEL a good diversifier for POR?
To a limited degree. At 0.64 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 0.64 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/por-vs-xel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/por-vs-xel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: POR correlations · XEL correlations
