PPL vs SO: Correlation
PPL Corporation (PPL) and Southern Company (SO) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPL and SO?
On 3 years of weekly data the PPL/SO correlation comes out at 0.75, strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. The 5-year figure is 0.79, and annualized covariance runs at 215.7 %².
Among the 44 assets we track against PPL, SO ranks #13 by 3-year correlation. Their 12-month results are close: -3.0% for PPL against -1.4% for SO. The link looks structural: the rolling one-year correlation barely moved, holding between 0.61 and 0.84.
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.
PPL vs SO: side by side
| PPL (PPL Corporation) | SO (Southern Company) | |
|---|---|---|
| 1-year return | -3.0% | -1.4% |
| 5-year return | +41.1% | +62.6% |
| Volatility (ann.) | 17.4% | 16.5% |
| Beta vs S&P 500 | 0.13 | -0.02 |
| Max drawdown (3Y) | -13.3% | -15.0% |
| Market cap | $25.9B | $102.4B |
| P/E (trailing) | 20.7 | 21.7 |
| Dividend yield | 3.18% | 3.32% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | PPL | SO |
|---|---|---|
| 2022 | +0.4% | +8.2% |
| 2023 | -3.8% | +2.2% |
| 2024 | +24.0% | +21.7% |
| 2025 | +11.4% | +9.5% |
| 2026 | -0.1% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PPL and SO good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PPL and SO?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.77 over the last year and 0.79 over 5 years.
Is SO a good diversifier for PPL?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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.
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Related comparisons
Hubs: PPL correlations · SO correlations
