SR vs SWX: Correlation
How closely do Spire Inc. (SR) and Southwest Gas Holdings, Inc. (SWX) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SR and SWX?
Across a 3-year window, the weekly returns of SR and SWX correlate at 0.64, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 264.0 %².
Within SR's tracked universe of 18 assets, SWX comes in at #8 by 3-year correlation. Over the last 12 months SWX came out ahead by 6.1 percentage points (+11.6% against +17.7%).
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.
SR vs SWX: side by side
| SR (Spire Inc.) | SWX (Southwest Gas Holdings, Inc.) | |
|---|---|---|
| 1-year return | +11.6% | +17.7% |
| 5-year return | +53.3% | +51.6% |
| Volatility (ann.) | 19.6% | 21.1% |
| Beta vs S&P 500 | 0.17 | 0.35 |
| Max drawdown (3Y) | -19.4% | -14.8% |
| Market cap | $4.9B | $6.5B |
| P/E (trailing) | 18.2 | 23.3 |
| Dividend yield | 3.90% | 2.76% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SR | SWX |
|---|---|---|
| 2022 | +9.8% | -8.7% |
| 2023 | -5.3% | +6.6% |
| 2024 | +14.1% | +15.7% |
| 2025 | +27.1% | +16.9% |
| 2026 | +1.8% | +14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SR and SWX 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 SR and SWX?
As of 2026-08-27, the correlation of weekly returns between SR and SWX is 0.64 over 3 years, 0.72 over 1 year and 0.55 over 5 years.
Is SWX a good diversifier for SR?
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?
A reading of 0.64 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/sr-vs-swx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/sr-vs-swx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SR correlations · SWX correlations
