PPL vs WEC: Correlation
Measured on weekly returns over the past three years, PPL Corporation (PPL) and WEC Energy Group (WEC) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPL and WEC?
Over the past 3 years, PPL and WEC moved with a correlation of 0.78, which is strong. Recent behaviour matches the longer record: 0.83 over 1 year against 0.78 over 3. Over 5 years the correlation is 0.81, and the annualized covariance of weekly returns is 230.7 %².
Within PPL's tracked universe of 44 assets, WEC comes in at #8 by 3-year correlation. The trailing year gives WEC the advantage: -3.0% versus +2.1%, a 5.1-point spread. Stability stands out here, with the rolling one-year correlation confined to 0.69 through 0.83.
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 WEC: side by side
| PPL (PPL Corporation) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | -3.0% | +2.1% |
| 5-year return | +41.1% | +32.7% |
| Volatility (ann.) | 17.4% | 16.9% |
| Beta vs S&P 500 | 0.13 | 0.02 |
| Max drawdown (3Y) | -13.3% | -11.6% |
| Market cap | $25.9B | $34.6B |
| P/E (trailing) | 20.7 | 20.6 |
| Dividend yield | 3.18% | 3.43% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | PPL | WEC |
|---|---|---|
| 2022 | +0.4% | -0.5% |
| 2023 | -3.8% | -7.0% |
| 2024 | +24.0% | +16.1% |
| 2025 | +11.4% | +16.0% |
| 2026 | -0.1% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PPL and WEC good diversifiers for each other?
Only partially. A correlation of 0.78 means PPL and WEC 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 PPL and WEC?
As of 2026-08-27, the correlation of weekly returns between PPL and WEC is 0.78 over 3 years, 0.83 over 1 year and 0.81 over 5 years.
Is WEC a good diversifier for PPL?
Only partially. A correlation of 0.78 means PPL and WEC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 mean?
A reading of 0.78 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PPL correlations · WEC correlations
