SO vs WEC: Correlation
Measured on weekly returns over the past three years, Southern Company (SO) and WEC Energy Group (WEC) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SO and WEC?
On 3 years of weekly data the SO/WEC correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.86 lands near the 3-year figure. The 5-year figure is 0.85, and annualized covariance runs at 228.0 %².
Few assets follow SO as closely as WEC, which ranks #2 of 48 tracked partners. Their 12-month results are close: -1.4% for SO against +2.1% for WEC. Stability stands out here, with the rolling one-year correlation confined to 0.68 through 0.87.
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.
SO vs WEC: side by side
| SO (Southern Company) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | -1.4% | +2.1% |
| 5-year return | +62.6% | +32.7% |
| Volatility (ann.) | 16.5% | 16.9% |
| Beta vs S&P 500 | -0.02 | 0.02 |
| Max drawdown (3Y) | -15.0% | -11.6% |
| Market cap | $102.4B | $34.6B |
| P/E (trailing) | 21.7 | 20.6 |
| Dividend yield | 3.32% | 3.43% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | SO | WEC |
|---|---|---|
| 2022 | +8.2% | -0.5% |
| 2023 | +2.2% | -7.0% |
| 2024 | +21.7% | +16.1% |
| 2025 | +9.5% | +16.0% |
| 2026 | +4.6% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SO and WEC good diversifiers for each other?
No: a correlation of 0.82 means SO and WEC tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between SO and WEC?
The SO/WEC correlation stands at 0.82 on a 3-year window (1 year: 0.86, 5 years: 0.85), computed from weekly returns as of 2026-08-27.
Is WEC a good diversifier for SO?
No: a correlation of 0.82 means SO and WEC tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 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.
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Related comparisons
Hubs: SO correlations · WEC correlations
