PNW vs. SO
PNW (Pinnacle West Capital Corporation) and SO (The Southern Company) are both stocks. Both operate in the Utilities - Regulated Electric industry within the Utilities sector. Over the past 10 years, PNW returned 6.82%/yr vs 10.56%/yr for SO. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
PNW vs. SO - Performance Comparison
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Returns By Period
In the year-to-date period, PNW achieves a 13.50% return, which is significantly higher than SO's 5.48% return. Over the past 10 years, PNW has underperformed SO with an annualized return of 6.82%, while SO has yielded a comparatively higher 10.56% annualized return.
PNW
- 1D
- 1.37%
- 1M
- -3.71%
- YTD
- 13.50%
- 6M
- 13.71%
- 1Y
- 13.10%
- 3Y*
- 13.17%
- 5Y*
- 7.19%
- 10Y*
- 6.82%
SO
- 1D
- 1.66%
- 1M
- -5.64%
- YTD
- 5.48%
- 6M
- 3.30%
- 1Y
- 3.92%
- 3Y*
- 13.14%
- 5Y*
- 11.05%
- 10Y*
- 10.56%
PNW vs. SO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNW Pinnacle West Capital Corporation | 13.50% | 8.92% | 23.46% | -1.18% | 13.01% | -7.78% | -7.68% | 9.06% | 3.58% | 12.67% |
SO The Southern Company | 5.48% | 9.47% | 21.72% | 2.21% | 8.24% | 16.34% | 0.63% | 51.65% | -3.75% | 2.42% |
Correlation
The correlation between PNW and SO is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 1984 | 0.54 |
Over the past year, PNW and SO have become more correlated (0.75) than their long-term average of 0.54, meaning their price movements have been converging.
Fundamentals
PNW:
$12.23B
SO:
$102.10B
PNW:
$5.34
SO:
$3.92
PNW:
18.49
SO:
23.09
PNW:
2.22
SO:
3.34
PNW:
1.73
SO:
2.75
PNW:
$5.46B
SO:
$30.17B
PNW:
$2.22B
SO:
$13.01B
PNW:
$2.18B
SO:
$14.44B
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Return for Risk
PNW vs. SO — Risk / Return Rank
PNW
SO
PNW vs. SO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pinnacle West Capital Corporation (PNW) and The Southern Company (SO). 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.
| PNW | SO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.83 | 0.25 | +0.58 |
Sortino ratioReturn per unit of downside risk | 1.28 | 0.47 | +0.82 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.06 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.50 | 0.26 | +1.24 |
Martin ratioReturn relative to average drawdown | 3.60 | 0.61 | +2.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PNW | SO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 0.25 | +0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.60 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.48 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.62 | -0.32 |
Drawdowns
PNW vs. SO - Drawdown Comparison
The maximum PNW drawdown since its inception was -79.18%, which is greater than SO's maximum drawdown of -38.43%. Use the drawdown chart below to compare losses from any high point for PNW and SO.
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Drawdown Indicators
| PNW | SO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.18% | -38.43% | -40.75% |
Max Drawdown (1Y)Largest decline over 1 year | -8.43% | -14.99% | +6.56% |
Max Drawdown (3Y)Largest decline over 3 years | -19.52% | -14.99% | -4.53% |
Max Drawdown (5Y)Largest decline over 5 years | -28.14% | -23.28% | -4.86% |
Max Drawdown (10Y)Largest decline over 10 years | -39.28% | -38.43% | -0.85% |
Current DrawdownCurrent decline from peak | -4.55% | -7.92% | +3.37% |
Average DrawdownAverage peak-to-trough decline | -14.61% | -6.87% | -7.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 6.31% | -2.80% |
Volatility
PNW vs. SO - Volatility Comparison
The current volatility for Pinnacle West Capital Corporation (PNW) is 4.96%, while The Southern Company (SO) has a volatility of 5.87%. This indicates that PNW experiences smaller price fluctuations and is considered to be less risky than SO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNW | SO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.96% | 5.87% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 11.86% | 13.16% | -1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.92% | 15.96% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.36% | 18.64% | +1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.62% | 21.95% | +0.67% |
Dividends
PNW vs. SO - Dividend Comparison
PNW's dividend yield for the trailing twelve months is around 3.67%, more than SO's 3.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNW Pinnacle West Capital Corporation | 3.67% | 4.05% | 4.17% | 4.84% | 4.49% | 4.73% | 3.97% | 3.33% | 3.31% | 3.12% | 3.24% | 3.74% |
SO The Southern Company | 3.29% | 3.37% | 3.47% | 3.96% | 3.78% | 3.82% | 4.13% | 3.86% | 5.42% | 4.78% | 4.52% | 4.60% |
Financials
PNW vs. SO - Financials Comparison
This section allows you to compare key financial metrics between Pinnacle West Capital Corporation and The Southern Company. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PNW vs. SO - Profitability Comparison
PNW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pinnacle West Capital Corporation reported a gross profit of 712.87M and revenue of 1.15B. Therefore, the gross margin over that period was 62.0%.
SO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Southern Company reported a gross profit of 3.90B and revenue of 8.40B. Therefore, the gross margin over that period was 46.5%.
PNW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pinnacle West Capital Corporation reported an operating income of 401.36M and revenue of 1.15B, resulting in an operating margin of 34.9%.
SO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Southern Company reported an operating income of 2.02B and revenue of 8.40B, resulting in an operating margin of 24.0%.
PNW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pinnacle West Capital Corporation reported a net income of 32.92M and revenue of 1.15B, resulting in a net margin of 2.9%.
SO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Southern Company reported a net income of 1.36B and revenue of 8.40B, resulting in a net margin of 16.2%.
Frequently Asked Questions
PNW and SO have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SO has higher volatility (5.87%) compared to PNW (4.96%). In terms of maximum drawdown, PNW dropped -79.18% vs SO's -38.43%.
PNW currently has the higher Sharpe Ratio (0.83 vs 0.25), 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.
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