PPL vs. PBA

Last updated Jun 3, 2026

PPL (PPL Corporation) and PBA (Pembina Pipeline Corporation) are both stocks. PPL operates in Utilities - Regulated Electric (Utilities), while PBA operates in Oil & Gas Midstream (Energy). Over the past 10 years, PPL returned 3.24%/yr vs 10.76%/yr for PBA. At a 0.27 correlation, their price movements are largely independent.

Performance

PPL vs. PBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PPL Corporation (PPL) and Pembina Pipeline Corporation (PBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPL achieves a 0.20% return, which is significantly lower than PBA's 29.67% return. Over the past 10 years, PPL has underperformed PBA with an annualized return of 3.24%, while PBA has yielded a comparatively higher 10.76% annualized return.

PPL

• 1D: 0.90%
• 1M: -7.37%
• YTD: 0.20%
• 6M: 0.44%
• 1Y: 3.50%
• 3Y*: 13.29%
• 5Y*: 7.63%
• 10Y*: 3.24%

PBA

• 1D: 2.57%
• 1M: 4.97%
• YTD: 29.67%
• 6M: 29.79%
• 1Y: 35.33%
• 3Y*: 21.48%
• 5Y*: 15.19%
• 10Y*: 10.76%

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

PPL vs. PBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPL PPL Corporation	0.20%	11.38%	23.98%	-3.77%	0.35%	12.88%	-16.87%	33.41%	-3.01%	-5.19%
PBA Pembina Pipeline Corporation	29.67%	8.55%	13.16%	7.81%	18.33%	36.99%	-30.57%	31.15%	-13.66%	21.15%

Correlation

The correlation between PPL and PBA is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Oct 7, 2010	0.27

The correlation between PPL and PBA shifts across timeframes, from 0.14 (1 year) to 0.33 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PPL : $26.37B PBA : $28.39B
EPS PPL : $1.63 PBA : $2.91
PE Ratio PPL : 21.35 PBA : 16.79
PEG Ratio PPL : 17.88 PBA : 0.65
PS Ratio PPL : 2.80 PBA : 3.75
PB Ratio PPL : 1.20 PBA : 1.87
Total Revenue (TTM) PPL : $9.31B PBA : $7.57B
Gross Profit (TTM) PPL : $4.34B PBA : $3.06B
EBITDA (TTM) PPL : $3.38B PBA : $3.69B

Return for Risk

PPL vs. PBA — Risk / Return Rank

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

PPL

PPL Risk / Return Rank: 44
PPL Sharpe Ratio Rank: 48
PPL Sortino Ratio Rank: 39
PPL Omega Ratio Rank: 38
PPL Calmar Ratio Rank: 46
PPL Martin Ratio Rank: 48

PBA

PBA Risk / Return Rank: 82
PBA Sharpe Ratio Rank: 85
PBA Sortino Ratio Rank: 82
PBA Omega Ratio Rank: 82
PBA Calmar Ratio Rank: 82
PBA Martin Ratio Rank: 81

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.

PPL vs. PBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PPL Corporation (PPL) and Pembina Pipeline Corporation (PBA). 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.

	PPL	PBA	Difference
Sharpe ratio Return per unit of total volatility	0.21	1.82	-1.61
Sortino ratio Return per unit of downside risk	0.40	2.48	-2.08
Omega ratio Gain probability vs. loss probability	1.05	1.33	-0.28
Calmar ratio Return relative to maximum drawdown	0.26	3.07	-2.81
Martin ratio Return relative to average drawdown	0.72	7.05	-6.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PPL vs. PBA - Sharpe Ratio Comparison

The current PPL Sharpe Ratio is 0.21, which is lower than the PBA Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of PPL and PBA, 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

	PPL	PBA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	1.82	-1.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.71	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.33	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.37	+0.05

Drawdowns

PPL vs. PBA - Drawdown Comparison

The maximum PPL drawdown since its inception was -55.38%, smaller than the maximum PBA drawdown of -70.87%. Use the drawdown chart below to compare losses from any high point for PPL and PBA.

Drawdown Indicators

	PPL	PBA	Difference
Max Drawdown Largest peak-to-trough decline	-55.38%	-70.87%	+15.49%
Max Drawdown (1Y) Largest decline over 1 year	-13.29%	-12.08%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-18.84%	-17.92%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-24.73%	-27.37%	+2.64%
Max Drawdown (10Y) Largest decline over 10 years	-48.73%	-70.87%	+22.14%
Current Drawdown Current decline from peak	-12.51%	-1.61%	-10.90%
Average Drawdown Average peak-to-trough decline	-15.62%	-15.05%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.77%	5.26%	-0.49%

Volatility

PPL vs. PBA - Volatility Comparison

The current volatility for PPL Corporation (PPL) is 5.79%, while Pembina Pipeline Corporation (PBA) has a volatility of 7.19%. This indicates that PPL experiences smaller price fluctuations and is considered to be less risky than PBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPL	PBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	7.19%	-1.40%
Volatility (6M) Calculated over the trailing 6-month period	13.22%	13.78%	-0.56%
Volatility (1Y) Calculated over the trailing 1-year period	16.79%	19.52%	-2.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.73%	21.62%	-2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.78%	32.91%	-10.13%

Dividends

PPL vs. PBA - Dividend Comparison

PPL's dividend yield for the trailing twelve months is around 3.17%, less than PBA's 4.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBA Pembina Pipeline Corporation	4.24%	5.34%	5.39%	5.70%	5.78%	6.71%	8.56%	4.80%	5.81%	4.36%	4.19%	6.48%
PPL PPL Corporation	3.17%	3.11%	3.17%	3.54%	2.99%	5.52%	5.89%	4.60%	5.79%	5.11%	4.46%	11.74%

Financials

PPL vs. PBA - Profitability Comparison

The chart below illustrates the profitability comparison between PPL Corporation and Pembina Pipeline Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PPL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PPL Corporation reported a gross profit of 1.92B and revenue of 2.77B. Therefore, the gross margin over that period was 69.3%.

PBA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pembina Pipeline Corporation reported a gross profit of 797.05M and revenue of 2.07B. Therefore, the gross margin over that period was 38.5%.

PPL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PPL Corporation reported an operating income of 745.00M and revenue of 2.77B, resulting in an operating margin of 26.9%.

PBA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pembina Pipeline Corporation reported an operating income of 670.73M and revenue of 2.07B, resulting in an operating margin of 32.4%.

PPL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PPL Corporation reported a net income of 452.00M and revenue of 2.77B, resulting in a net margin of 16.3%.

PBA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pembina Pipeline Corporation reported a net income of 499.29M and revenue of 2.07B, resulting in a net margin of 24.1%.

Frequently Asked Questions

Can I hold both PPL and PBA in my portfolio?

PPL and PBA have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPL or PBA?

PBA has higher volatility (7.19%) compared to PPL (5.79%). In terms of maximum drawdown, PPL dropped -55.38% vs PBA's -70.87%.

Which has better risk-adjusted returns?

PBA currently has the higher Sharpe Ratio (1.82 vs 0.21), 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.