PCG vs. AEP

Last updated Jun 4, 2026

PCG (PG&E Corporation) and AEP (American Electric Power Company, Inc.) are both stocks. Both operate in the Utilities - Regulated Electric industry within the Utilities sector. Over the past 10 years, PCG returned -11.61%/yr vs 10.55%/yr for AEP. At a 0.43 correlation, their price movements are largely independent.

Performance

PCG vs. AEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PG&E Corporation (PCG) and American Electric Power Company, Inc. (AEP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCG achieves a 5.15% return, which is significantly lower than AEP's 11.21% return. Over the past 10 years, PCG has underperformed AEP with an annualized return of -11.61%, while AEP has yielded a comparatively higher 10.55% annualized return.

PCG

• 1D: 1.69%
• 1M: 3.95%
• YTD: 5.15%
• 6M: 11.30%
• 1Y: 2.84%
• 3Y*: 0.88%
• 5Y*: 10.49%
• 10Y*: -11.61%

AEP

• 1D: -0.63%
• 1M: -5.52%
• YTD: 11.21%
• 6M: 8.62%
• 1Y: 26.72%
• 3Y*: 19.14%
• 5Y*: 11.95%
• 10Y*: 10.55%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PCG vs. AEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCG PG&E Corporation	5.15%	-19.72%	12.25%	10.95%	33.94%	-2.57%	14.63%	-54.23%	-47.02%	-24.51%
AEP American Electric Power Company, Inc.	11.21%	29.38%	18.18%	-10.98%	10.38%	10.68%	-9.01%	30.52%	5.38%	20.95%

Correlation

The correlation between PCG and AEP is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jun 2, 1972	0.43

Fundamentals

Market Cap PCG : $38.43B AEP : $69.10B
EPS PCG : $1.32 AEP : $6.82
PE Ratio PCG : 12.79 AEP : 18.51
PS Ratio PCG : 1.46 AEP : 3.05
PB Ratio PCG : 0.99 AEP : 2.17
Total Revenue (TTM) PCG : $25.83B AEP : $22.16B
Gross Profit (TTM) PCG : $11.87B AEP : $8.95B
EBITDA (TTM) PCG : $10.55B AEP : $8.70B

Return for Risk

PCG vs. AEP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PCG

PCG Risk / Return Rank: 41
PCG Sharpe Ratio Rank: 45
PCG Sortino Ratio Rank: 38
PCG Omega Ratio Rank: 38
PCG Calmar Ratio Rank: 44
PCG Martin Ratio Rank: 43

AEP

AEP Risk / Return Rank: 79
AEP Sharpe Ratio Rank: 80
AEP Sortino Ratio Rank: 78
AEP Omega Ratio Rank: 75
AEP Calmar Ratio Rank: 82
AEP Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PCG vs. AEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PG&E Corporation (PCG) and American Electric Power Company, Inc. (AEP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	PCG	AEP	Difference
Sharpe ratio Return per unit of total volatility	0.10	1.48	-1.38
Sortino ratio Return per unit of downside risk	0.34	2.23	-1.89
Omega ratio Gain probability vs. loss probability	1.04	1.27	-0.23
Calmar ratio Return relative to maximum drawdown	0.15	2.95	-2.80
Martin ratio Return relative to average drawdown	0.32	7.65	-7.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCG vs. AEP - Sharpe Ratio Comparison

The current PCG Sharpe Ratio is 0.10, which is lower than the AEP Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of PCG and AEP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PCG	AEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	1.48	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.60	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.20	0.50	-0.70
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.29	-0.21

Drawdowns

PCG vs. AEP - Drawdown Comparison

The maximum PCG drawdown since its inception was -94.65%, which is greater than AEP's maximum drawdown of -62.75%. Use the drawdown chart below to compare losses from any high point for PCG and AEP.

Drawdown Indicators

	PCG	AEP	Difference
Max Drawdown Largest peak-to-trough decline	-94.65%	-62.75%	-31.90%
Max Drawdown (1Y) Largest decline over 1 year	-18.91%	-9.09%	-9.82%
Max Drawdown (3Y) Largest decline over 3 years	-39.63%	-18.04%	-21.59%
Max Drawdown (5Y) Largest decline over 5 years	-39.63%	-29.56%	-10.07%
Max Drawdown (10Y) Largest decline over 10 years	-94.65%	-32.91%	-61.74%
Current Drawdown Current decline from peak	-75.92%	-7.23%	-68.69%
Average Drawdown Average peak-to-trough decline	-26.48%	-17.55%	-8.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.83%	3.50%	+6.33%

Volatility

PCG vs. AEP - Volatility Comparison

PG&E Corporation (PCG) has a higher volatility of 8.26% compared to American Electric Power Company, Inc. (AEP) at 7.64%. This indicates that PCG's price experiences larger fluctuations and is considered to be riskier than AEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCG	AEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.26%	7.64%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	18.34%	13.37%	+4.97%
Volatility (1Y) Calculated over the trailing 1-year period	27.81%	18.17%	+9.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.00%	20.04%	+7.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.53%	20.96%	+38.57%

Dividends

PCG vs. AEP - Dividend Comparison

PCG's dividend yield for the trailing twelve months is around 0.89%, less than AEP's 2.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEP American Electric Power Company, Inc.	2.99%	3.24%	3.87%	4.15%	3.34%	3.37%	3.41%	2.87%	3.39%	3.25%	3.61%	3.69%
PCG PG&E Corporation	0.89%	0.78%	0.27%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	3.46%	3.17%	3.42%

Financials

PCG vs. AEP - Profitability Comparison

The chart below illustrates the profitability comparison between PG&E Corporation and American Electric Power Company, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PCG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PG&E Corporation reported a gross profit of 5.85B and revenue of 6.88B. Therefore, the gross margin over that period was 85.0%.

AEP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, American Electric Power Company, Inc. reported a gross profit of 3.90B and revenue of 6.02B. Therefore, the gross margin over that period was 64.8%.

PCG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PG&E Corporation reported an operating income of 1.47B and revenue of 6.88B, resulting in an operating margin of 21.4%.

AEP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, American Electric Power Company, Inc. reported an operating income of 1.36B and revenue of 6.02B, resulting in an operating margin of 22.6%.

PCG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PG&E Corporation reported a net income of 885.00M and revenue of 6.88B, resulting in a net margin of 12.9%.

AEP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, American Electric Power Company, Inc. reported a net income of 874.00M and revenue of 6.02B, resulting in a net margin of 14.5%.

Frequently Asked Questions

Can I hold both PCG and AEP in my portfolio?

PCG and AEP have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCG or AEP?

PCG has higher volatility (8.26%) compared to AEP (7.64%). In terms of maximum drawdown, PCG dropped -94.65% vs AEP's -62.75%.

Which has better risk-adjusted returns?

AEP currently has the higher Sharpe Ratio (1.48 vs 0.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.