Power Generation

Duke Energy Corporation (Holding Company) vs Exelon Corporation

Measured twinDUK / EXCPrices through Oct 22, 2026

Why these are rivals: #1 and #3 by market value ($93B vs $44B) in Nasdaq's "Power Generation" industry; SEC SIC 4931 / 4931 (same major group); #1 and #3 by market value ($93B vs $44B) with SEC SIC 4931 (Electric & Other Services Combined).

The price gap between these two has a measured habit of closing. A 2 standard deviation gap becomes a paired paper idea.

  • no divergence: z = 1.62 (needs |z| >= 2.0)
Business leadership

DUK is the larger business

Annual revenue reported to the SEC. Scale, not market share.

YearDUKEXCLarger
2025$31.7B$24.3BDUK
2024$30.1B$23.0BDUK
2023$28.7B$21.7BDUK
2022$28.7B$19.1BDUK
2021$24.5B$17.9BDUK
2020$23.3B$16.7BDUK

DUK led in every year with figures for both. Market value: DUK $93.0B, EXC $43.8B.

Stock leadership

DUK is ahead now

Measured against the pair's own last 252 trading days.

DUK leads EXC by 1.62 standard deviations: +3.0% over its usual price ratio. 9 lead switches in the last year.

Price change3 mo6 mo12 mo
DUK-3.9%-2.1%-2.3%
EXC-5.6%-4.1%-6.6%
Relationship

The gap has closed before

Only these tests can make a pair tradable on paper.

Pass
Aligned sessions: 2521 (needs >= 254)
Pass
Co-movement: daily return correlation, 252 sessions: 0.74 (needs >= 0.60)
Pass
Mean reversion: ADF t-statistic of the spread: -2.90 (needs <= -2.873 (5% critical value))
Pass
Speed: half-life of the spread, sessions: 6.56 (needs <= 63)
Data
Both stocks current
The twins over two years

Prices side by side, and the gap between them

DUK Duke Energy Corporation (Holding Company) EXC Exelon CorporationPrice index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
90100110120Oct 2024Oct 2025Oct 2026DUK 104EXC 110
Spread z-score: DUK relative to EXC, against the 252 sessions before each day. Above 0: DUK ahead; below 0: EXC ahead. Lines at +/-2 (idea) and +/-4 (stop).
-4stop-2idea0+2idea+4stopOct 2024Oct 2025Oct 2026
Data table (504 sessions)
DateDUK indexEXC indexzAhead
2026-10-22103.84109.52+1.62DUK ahead
2026-10-2199.93105.13+1.78DUK ahead
2026-10-20100.47105.08+2.13DUK ahead
2026-10-1998.77103.57+2.01DUK ahead
2026-10-16100.59106.23+1.63DUK ahead
2026-10-1598.44103.74+1.77DUK ahead
2026-10-1499.07104.03+2.00DUK ahead
2026-10-1397.87103.39+1.67DUK ahead
2026-10-1297.46102.86+1.74DUK ahead
2026-10-0996.60101.98+1.74DUK ahead
2026-10-0896.75101.90+1.90DUK ahead
2026-10-0795.64101.32+1.58DUK ahead
2026-10-0695.78101.78+1.40DUK ahead
2026-10-0594.2799.68+1.71DUK ahead
2026-10-0294.5199.46+2.01DUK ahead
2026-10-0194.1998.83+2.21DUK ahead
2026-09-3094.4198.66+2.48DUK ahead
2026-09-2994.5899.27+2.23DUK ahead
2026-09-2893.9198.46+2.30DUK ahead
2026-09-2593.8698.51+2.25DUK ahead
2026-09-2493.7698.17+2.41DUK ahead
2026-09-2394.5499.37+2.18DUK ahead
2026-09-2296.32102.08+1.67DUK ahead
2026-09-2196.67102.52+1.62DUK ahead
2026-09-1897.33102.74+1.90DUK ahead
2026-09-1798.16104.13+1.59DUK ahead
2026-09-1697.52103.64+1.46DUK ahead
2026-09-1597.52103.04+1.81DUK ahead
2026-09-1498.56104.32+1.69DUK ahead
2026-09-1198.89105.40+1.27DUK ahead
2026-09-1098.85105.96+0.92DUK ahead
2026-09-0999.73106.72+1.01DUK ahead
2026-09-08100.40107.33+1.07DUK ahead
2026-09-0499.55106.57+0.98DUK ahead
2026-09-03100.53108.74+0.36near the usual relationship
2026-09-0299.83107.37+0.68DUK ahead
2026-09-0199.69107.03+0.78DUK ahead
2026-08-3199.30106.76+0.68DUK ahead
2026-08-2899.58107.28+0.56DUK ahead
2026-08-27100.07107.35+0.80DUK ahead
2026-08-26100.94108.52+0.67DUK ahead
2026-08-25100.69108.21+0.70DUK ahead
2026-08-24101.00108.28+0.83DUK ahead
2026-08-2199.25106.91+0.55DUK ahead
2026-08-20101.60110.04+0.24near the usual relationship
2026-08-19102.35110.62+0.36near the usual relationship
2026-08-18102.67110.65+0.52DUK ahead
2026-08-17102.34111.28+0.01near the usual relationship
2026-08-14102.62111.99-0.20near the usual relationship
2026-08-13103.09111.36+0.37near the usual relationship
2026-08-12102.26110.43+0.38near the usual relationship
2026-08-11102.01109.57+0.67DUK ahead
2026-08-10100.36108.67+0.22near the usual relationship
2026-08-07103.39111.38+0.49near the usual relationship
2026-08-06102.60110.67+0.42near the usual relationship
2026-08-05102.14111.75-0.35near the usual relationship
2026-08-04102.91111.94-0.04near the usual relationship
2026-08-03102.91111.43+0.21near the usual relationship
2026-07-31103.87111.89+0.49near the usual relationship
2026-07-30104.56111.31+1.14DUK ahead
2026-07-29106.89114.85+0.64DUK ahead
2026-07-28107.02115.53+0.38near the usual relationship
2026-07-27106.68115.14+0.39near the usual relationship
2026-07-24108.08116.07+0.67DUK ahead
2026-07-23107.04115.46+0.43near the usual relationship
2026-07-22105.95114.04+0.55DUK ahead
2026-07-21104.26112.06+0.62DUK ahead
2026-07-20104.21112.23+0.52DUK ahead
2026-07-17103.52112.97-0.21near the usual relationship
2026-07-16104.43114.26-0.35near the usual relationship
2026-07-15102.96111.70+0.11near the usual relationship
2026-07-14104.65114.58-0.39near the usual relationship
2026-07-13105.05114.99-0.38near the usual relationship
2026-07-10103.91114.29-0.64EXC ahead
2026-07-09103.73113.26-0.25near the usual relationship
2026-07-08104.99115.46-0.64EXC ahead
2026-07-07106.18116.17-0.36near the usual relationship
2026-07-06104.31114.90-0.73EXC ahead
2026-07-02107.32116.92-0.14near the usual relationship
2026-07-01104.15112.97+0.10near the usual relationship
2026-06-30104.82113.85+0.03near the usual relationship
2026-06-29106.27115.14+0.16near the usual relationship
2026-06-26106.33115.75-0.10near the usual relationship
2026-06-25105.26114.16+0.10near the usual relationship
2026-06-24104.78114.53-0.32near the usual relationship
2026-06-23103.55113.85-0.64EXC ahead
2026-06-22102.29112.19-0.51EXC ahead
2026-06-18102.57111.87-0.21near the usual relationship
2026-06-17102.46111.26+0.04near the usual relationship
2026-06-16104.39113.77-0.17near the usual relationship
2026-06-15103.74112.77-0.02near the usual relationship
2026-06-12103.49112.84-0.19near the usual relationship
2026-06-11102.84111.14+0.30near the usual relationship
2026-06-10103.54111.38+0.56DUK ahead
2026-06-09102.53110.70+0.36near the usual relationship
2026-06-08101.07109.40+0.22near the usual relationship
2026-06-05102.87111.72+0.03near the usual relationship
2026-06-04100.88108.99+0.32near the usual relationship
2026-06-03100.23110.09-0.57EXC ahead
2026-06-02100.27109.89-0.45near the usual relationship
2026-06-0199.28109.18-0.64EXC ahead
2026-05-29101.63111.45-0.48near the usual relationship
2026-05-28102.48111.31+0.05near the usual relationship
2026-05-27103.80112.80+0.02near the usual relationship
2026-05-26103.49112.41+0.05near the usual relationship
2026-05-22104.07112.89+0.13near the usual relationship
2026-05-21103.23110.74+0.73DUK ahead
2026-05-20102.53109.57+0.94DUK ahead
2026-05-19103.15108.96+1.57DUK ahead
2026-05-18101.72107.37+1.63DUK ahead
2026-05-15100.16105.93+1.54DUK ahead
2026-05-14102.94108.42+1.78DUK ahead
2026-05-13102.60108.11+1.78DUK ahead
2026-05-12103.57109.84+1.44DUK ahead
2026-05-11103.43107.91+2.36DUK ahead
2026-05-08102.82107.23+2.42DUK ahead
2026-05-07103.40108.45+2.13DUK ahead
2026-05-06103.96109.94+1.68DUK ahead
2026-05-05105.65112.77+1.17DUK ahead
2026-05-04105.54113.82+0.61DUK ahead
2026-05-01106.49113.55+1.24DUK ahead
2026-04-30107.28112.31+2.26DUK ahead
2026-04-29104.76114.82-0.23near the usual relationship
2026-04-28105.83114.87+0.30near the usual relationship
2026-04-27105.24113.77+0.52DUK ahead
2026-04-24105.39114.58+0.23near the usual relationship
2026-04-23106.03114.16+0.74DUK ahead
2026-04-22103.72111.99+0.60DUK ahead
2026-04-21104.07112.99+0.32near the usual relationship
2026-04-20105.88113.31+1.07DUK ahead
2026-04-17106.02114.82+0.47near the usual relationship
2026-04-16106.52116.21+0.10near the usual relationship
2026-04-15105.98116.92-0.44near the usual relationship
2026-04-14107.47118.83-0.54EXC ahead
2026-04-13107.98117.58+0.22near the usual relationship
2026-04-10109.13118.61+0.32near the usual relationship
2026-04-09110.14120.73-0.10near the usual relationship
2026-04-08108.98120.07-0.34near the usual relationship
2026-04-07109.16119.78-0.14near the usual relationship
2026-04-06108.82119.51-0.17near the usual relationship
2026-04-02109.49120.46-0.25near the usual relationship
2026-04-01108.40119.37-0.29near the usual relationship
2026-03-31108.43119.71-0.42near the usual relationship
2026-03-30109.07119.93-0.22near the usual relationship
2026-03-27107.64118.00-0.07near the usual relationship
2026-03-26107.14118.19-0.38near the usual relationship
2026-03-25106.13116.41-0.11near the usual relationship
2026-03-24105.48115.48-0.02near the usual relationship
2026-03-23105.45115.19+0.09near the usual relationship
2026-03-20105.01113.41+0.64DUK ahead
2026-03-19107.44117.24+0.14near the usual relationship
2026-03-18108.27120.27-0.71EXC ahead
2026-03-17110.09122.20-0.68EXC ahead
2026-03-16110.52122.81-0.74EXC ahead
2026-03-13110.26121.66-0.41near the usual relationship
2026-03-12109.16120.83-0.56EXC ahead
2026-03-11107.68119.27-0.60EXC ahead
2026-03-10107.39119.68-0.90EXC ahead
2026-03-09108.55120.00-0.51EXC ahead
2026-03-06109.72120.54-0.21near the usual relationship
2026-03-05108.98119.10+0.05near the usual relationship
2026-03-04109.21120.27-0.32near the usual relationship
2026-03-03108.84119.56-0.20near the usual relationship
2026-03-02109.00120.07-0.33near the usual relationship
2026-02-27108.36120.81-0.90EXC ahead
2026-02-26107.01119.17-0.85EXC ahead
2026-02-25106.77118.93-0.86EXC ahead
2026-02-24106.38118.66-0.93EXC ahead
2026-02-23105.82117.70-0.79EXC ahead
2026-02-20104.99116.70-0.76EXC ahead
2026-02-19104.65115.65-0.48near the usual relationship
2026-02-18103.71115.36-0.78EXC ahead
2026-02-17104.93117.31-1.02EXC ahead
2026-02-13106.16118.39-0.90EXC ahead
2026-02-12104.43116.12-0.77EXC ahead
2026-02-11103.68108.55+2.09DUK ahead
2026-02-10102.38109.01+1.28DUK ahead
2026-02-09100.79107.37+1.26DUK ahead
2026-02-06100.91108.25+0.92DUK ahead
2026-02-05102.19107.59+1.81DUK ahead
2026-02-04101.20106.06+2.04DUK ahead
2026-02-03100.75107.47+1.19DUK ahead
2026-02-0298.95107.23+0.44near the usual relationship
2026-01-30100.49109.35+0.23near the usual relationship
2026-01-29100.11108.45+0.44near the usual relationship
2026-01-2899.57109.30-0.19near the usual relationship
2026-01-2799.61109.47-0.24near the usual relationship
2026-01-2698.36108.79-0.54EXC ahead
2026-01-2397.24107.59-0.57EXC ahead
2026-01-2297.47108.91-1.03EXC ahead
2026-01-2198.85109.89-0.80EXC ahead
2026-01-2099.00109.77-0.68EXC ahead
2026-01-1698.72109.23-0.59EXC ahead
2026-01-1598.46107.81-0.13near the usual relationship
2026-01-1498.28106.47+0.35near the usual relationship
2026-01-1397.21105.79+0.13near the usual relationship
2026-01-1296.65104.76+0.30near the usual relationship
2026-01-0996.72105.74-0.08near the usual relationship
2026-01-0897.15106.11-0.05near the usual relationship
2026-01-0796.22104.98-0.01near the usual relationship
2026-01-0697.50107.06-0.29near the usual relationship
2026-01-0596.73106.32-0.35near the usual relationship
2026-01-0297.25107.25-0.49near the usual relationship
2025-12-3197.06106.45-0.27near the usual relationship
2025-12-3097.45107.25-0.42near the usual relationship
2025-12-2997.32106.54-0.21near the usual relationship
2025-12-2697.04106.37-0.27near the usual relationship
2025-12-2497.28106.28-0.15near the usual relationship
2025-12-2396.71106.13-0.33near the usual relationship
2025-12-2296.31106.35-0.57EXC ahead
2025-12-1995.69106.62-0.91EXC ahead
2025-12-1897.34108.13-0.80EXC ahead
2025-12-1797.24107.99-0.79EXC ahead
2025-12-1695.72106.86-0.98EXC ahead
2025-12-1596.66107.13-0.72EXC ahead
2025-12-1295.48106.40-0.91EXC ahead
2025-12-1194.73105.23-0.80EXC ahead
2025-12-1094.40105.69-1.06EXC ahead
2025-12-0995.43106.86-1.07EXC ahead
2025-12-0895.41105.81-0.76EXC ahead
2025-12-0596.49106.98-0.76EXC ahead
2025-12-0497.69107.23-0.45near the usual relationship
2025-12-0398.23108.77-0.72EXC ahead
2025-12-0299.11109.89-0.76EXC ahead
2025-12-0199.99111.58-0.96EXC ahead
2025-11-28102.63115.07-1.10EXC ahead
2025-11-26102.21113.72-0.89EXC ahead
2025-11-25100.97111.79-0.75EXC ahead
2025-11-24101.10112.89-1.00EXC ahead
2025-11-21101.69111.72-0.54EXC ahead
2025-11-20101.47110.89-0.39near the usual relationship
2025-11-19101.22111.26-0.56EXC ahead
2025-11-18102.52113.26-0.71EXC ahead
2025-11-17103.66113.80-0.54EXC ahead
2025-11-14101.61112.19-0.71EXC ahead
2025-11-13102.34110.99-0.21near the usual relationship
2025-11-12102.60112.16-0.44near the usual relationship
2025-11-11102.41110.96-0.21near the usual relationship
2025-11-10101.80111.01-0.39near the usual relationship
2025-11-07102.40112.84-0.68EXC ahead
2025-11-06102.68111.62-0.32near the usual relationship
2025-11-05102.49112.70-0.63EXC ahead
2025-11-04102.54113.26-0.75EXC ahead
2025-11-03102.41112.82-0.69EXC ahead
2025-10-31102.93112.63-0.52EXC ahead
2025-10-30103.68114.95-0.87EXC ahead
2025-10-29102.92115.26-1.14EXC ahead
2025-10-28104.05116.48-1.14EXC ahead
2025-10-27105.57117.39-0.97EXC ahead
2025-10-24105.47117.30-0.98EXC ahead
2025-10-23105.38116.24-0.77EXC ahead
2025-10-22106.85117.48-0.70EXC ahead
2025-10-21106.27117.22-0.79EXC ahead
2025-10-20106.77117.80-0.80EXC ahead
2025-10-17106.43116.68-0.64EXC ahead
2025-10-16105.50115.65-0.65EXC ahead
2025-10-15106.55116.80-0.65EXC ahead
2025-10-14105.85115.70-0.59EXC ahead
2025-10-13104.41114.41-0.65EXC ahead
2025-10-10105.18114.95-0.59EXC ahead
2025-10-09103.27113.94-0.84EXC ahead
2025-10-08103.70113.85-0.72EXC ahead
2025-10-07103.97114.26-0.75EXC ahead
2025-10-06103.00111.58-0.39near the usual relationship
2025-10-03102.30110.72-0.37near the usual relationship
2025-10-02100.67109.82-0.57EXC ahead
2025-10-01101.35110.04-0.46near the usual relationship
2025-09-30102.48109.91-0.16near the usual relationship
2025-09-29101.69108.11+0.06near the usual relationship
2025-09-26101.87107.67+0.20near the usual relationship
2025-09-25101.29106.91+0.23near the usual relationship
2025-09-24102.38108.01+0.24near the usual relationship
2025-09-23101.94108.01+0.12near the usual relationship
2025-09-22100.68105.98+0.28near the usual relationship
2025-09-19100.26106.01+0.17near the usual relationship
2025-09-1899.69105.27+0.19near the usual relationship
2025-09-17100.28105.57+0.26near the usual relationship
2025-09-1699.58104.35+0.37near the usual relationship
2025-09-15101.33106.06+0.39near the usual relationship
2025-09-12100.99105.93+0.33near the usual relationship
2025-09-11101.12106.23+0.29near the usual relationship
2025-09-10100.49105.79+0.23near the usual relationship
2025-09-0999.69105.23+0.15near the usual relationship
2025-09-0899.51105.05+0.14near the usual relationship
2025-09-0599.88106.06+0.00near the usual relationship
2025-09-04100.09105.84+0.09near the usual relationship
2025-09-03100.61105.93+0.18near the usual relationship
2025-09-02100.94105.91+0.25near the usual relationship
2025-08-29101.43106.67+0.20near the usual relationship
2025-08-28101.33106.86+0.13near the usual relationship
2025-08-27102.42108.40+0.04near the usual relationship
2025-08-26102.09108.47-0.05near the usual relationship
2025-08-25101.95108.91-0.18near the usual relationship
2025-08-22102.96109.79-0.14near the usual relationship
2025-08-21102.80109.01-0.03near the usual relationship
2025-08-20103.08109.60-0.09near the usual relationship
2025-08-19102.50109.26-0.15near the usual relationship
2025-08-18100.58107.45-0.21near the usual relationship
2025-08-15101.40108.86-0.32near the usual relationship
2025-08-14102.90109.04-0.05near the usual relationship
2025-08-13104.10110.45-0.09near the usual relationship
2025-08-12103.07108.94-0.01near the usual relationship
2025-08-11103.97109.18+0.12near the usual relationship
2025-08-08103.78110.67-0.21near the usual relationship
2025-08-07104.28111.21-0.21near the usual relationship
2025-08-06103.68110.04-0.12near the usual relationship
2025-08-05102.68109.13-0.15near the usual relationship
2025-08-04102.82110.31-0.35near the usual relationship
2025-08-01101.78109.08-0.33near the usual relationship
2025-07-31100.73109.74-0.68EXC ahead
2025-07-3099.77108.08-0.57EXC ahead
2025-07-2998.95108.18-0.76EXC ahead
2025-07-2897.38106.01-0.68EXC ahead
2025-07-2599.31107.42-0.55EXC ahead
2025-07-2499.16106.80-0.47near the usual relationship
2025-07-2398.96106.20-0.40near the usual relationship
2025-07-2299.98108.55-0.65EXC ahead
2025-07-2199.23106.79-0.47near the usual relationship
2025-07-1898.06105.98-0.56EXC ahead
2025-07-1797.27104.88-0.52EXC ahead
2025-07-1697.54104.64-0.43near the usual relationship
2025-07-1596.97104.88-0.60EXC ahead
2025-07-1497.66106.06-0.68EXC ahead
2025-07-1197.27106.25-0.81EXC ahead
2025-07-1097.86106.54-0.75EXC ahead
2025-07-0997.03105.35-0.70EXC ahead
2025-07-0896.32105.01-0.79EXC ahead
2025-07-0797.13105.42-0.70EXC ahead
2025-07-0397.14105.32-0.68EXC ahead
2025-07-0296.94104.81-0.63EXC ahead
2025-07-0198.43106.01-0.56EXC ahead
2025-06-3097.71106.03-0.72EXC ahead
2025-06-2796.82104.79-0.67EXC ahead
2025-06-2696.27103.81-0.60EXC ahead
2025-06-2596.02103.27-0.55EXC ahead
2025-06-2496.84105.25-0.76EXC ahead
2025-06-2396.86105.49-0.81EXC ahead
2025-06-2095.56104.03-0.81EXC ahead
2025-06-1894.88103.47-0.85EXC ahead
2025-06-1795.06103.52-0.83EXC ahead
2025-06-1695.56104.22-0.86EXC ahead
2025-06-1396.77105.62-0.88EXC ahead
2025-06-1297.12106.57-1.00EXC ahead
2025-06-1196.35104.71-0.81EXC ahead
2025-06-1096.33104.81-0.84EXC ahead
2025-06-0995.62103.05-0.64EXC ahead
2025-06-0695.42104.08-0.89EXC ahead
2025-06-0595.84104.66-0.92EXC ahead
2025-06-0496.04104.40-0.83EXC ahead
2025-06-0396.66106.13-1.04EXC ahead
2025-06-0297.08106.94-1.11EXC ahead
2025-05-3097.48107.01-1.04EXC ahead
2025-05-2995.60106.72-1.40EXC ahead
2025-05-2894.77105.69-1.38EXC ahead
2025-05-2796.37107.23-1.34EXC ahead
2025-05-2396.46106.64-1.21EXC ahead
2025-05-2295.70106.03-1.26EXC ahead
2025-05-2196.42107.91-1.47EXC ahead
2025-05-2097.14108.08-1.35EXC ahead
2025-05-1996.88108.40-1.47EXC ahead
2025-05-1696.27107.67-1.47EXC ahead
2025-05-1596.01106.06-1.21EXC ahead
2025-05-1493.13103.17-1.28EXC ahead
2025-05-1393.63104.93-1.52EXC ahead
2025-05-1295.93106.50-1.33EXC ahead
2025-05-0999.64110.40-1.29EXC ahead
2025-05-0899.37110.13-1.30EXC ahead
2025-05-07101.52113.16-1.42EXC ahead
2025-05-06101.81113.04-1.34EXC ahead
2025-05-0599.99112.33-1.58EXC ahead
2025-05-02100.68113.50-1.66EXC ahead
2025-05-01100.47113.80-1.76EXC ahead
2025-04-30101.04114.53-1.77EXC ahead
2025-04-29100.78114.41-1.81EXC ahead
2025-04-2899.93113.50-1.83EXC ahead
2025-04-2599.25112.87-1.86EXC ahead
2025-04-2499.95113.14-1.76EXC ahead
2025-04-23100.55114.29-1.85EXC ahead
2025-04-22101.47115.68-1.92EXC ahead
2025-04-2199.51112.89-1.81EXC ahead
2025-04-17100.86115.41-2.00EXC ahead
2025-04-1699.66113.58-1.91EXC ahead
2025-04-1599.78114.14-1.99EXC ahead
2025-04-1499.87114.43-2.03EXC ahead
2025-04-1198.49112.33-1.93EXC ahead
2025-04-1096.75110.18-1.90EXC ahead
2025-04-0996.32108.18-1.59EXC ahead
2025-04-0896.02108.64-1.74EXC ahead
2025-04-0796.77109.13-1.67EXC ahead
2025-04-0498.48110.74-1.60EXC ahead
2025-04-03102.72115.34-1.56EXC ahead
2025-04-0299.69112.26-1.62EXC ahead
2025-04-01100.26112.14-1.47EXC ahead
2025-03-31101.00112.53-1.38EXC ahead
2025-03-2898.88109.18-1.19EXC ahead
2025-03-2797.42108.06-1.27EXC ahead
2025-03-2696.98107.50-1.25EXC ahead
2025-03-2596.12104.42-0.83EXC ahead
2025-03-2497.84106.42-0.85EXC ahead
2025-03-2198.63106.96-0.78EXC ahead
2025-03-2099.50108.89-0.95EXC ahead
2025-03-1998.80108.52-1.02EXC ahead
2025-03-18100.00108.47-0.76EXC ahead
2025-03-17100.04108.40-0.73EXC ahead
2025-03-1499.47107.91-0.75EXC ahead
2025-03-1397.89106.15-0.73EXC ahead
2025-03-1296.59104.05-0.59EXC ahead
2025-03-1197.47105.98-0.77EXC ahead
2025-03-1098.13106.86-0.79EXC ahead
2025-03-0796.67105.27-0.78EXC ahead
2025-03-0695.10104.71-0.98EXC ahead
2025-03-0595.42105.89-1.12EXC ahead
2025-03-0496.40106.67-1.06EXC ahead
2025-03-0398.27108.79-1.06EXC ahead
2025-02-2897.29107.94-1.09EXC ahead
2025-02-2795.97106.94-1.16EXC ahead
2025-02-2696.32107.59-1.20EXC ahead
2025-02-2597.13107.55-1.03EXC ahead
2025-02-2495.99105.86-0.95EXC ahead
2025-02-2195.69105.96-1.03EXC ahead
2025-02-2093.71105.42-1.32EXC ahead
2025-02-1992.57104.15-1.32EXC ahead
2025-02-1891.83104.27-1.50EXC ahead
2025-02-1492.41104.64-1.45EXC ahead
2025-02-1394.36104.93-1.12EXC ahead
2025-02-1296.36104.74-0.69EXC ahead
2025-02-1196.63103.44-0.41near the usual relationship
2025-02-1095.73102.08-0.34near the usual relationship
2025-02-0795.22100.88-0.22near the usual relationship
2025-02-0694.83100.42-0.21near the usual relationship
2025-02-0594.29100.22-0.28near the usual relationship
2025-02-0493.1099.00-0.29near the usual relationship
2025-02-0393.7499.07-0.18near the usual relationship
2025-01-3192.7497.68-0.11near the usual relationship
2025-01-3092.9697.73-0.07near the usual relationship
2025-01-2991.6096.63-0.14near the usual relationship
2025-01-2892.1797.22-0.13near the usual relationship
2025-01-2793.2699.39-0.32near the usual relationship
2025-01-2490.9796.17-0.17near the usual relationship
2025-01-2390.5495.82-0.19near the usual relationship
2025-01-2290.1195.78-0.27near the usual relationship
2025-01-2191.7398.75-0.51EXC ahead
2025-01-1790.4896.26-0.29near the usual relationship
2025-01-1690.3196.07-0.28near the usual relationship
2025-01-1588.1592.84-0.10near the usual relationship
2025-01-1488.4892.60+0.02near the usual relationship
2025-01-1387.8991.72+0.08near the usual relationship
2025-01-1087.6791.09+0.16near the usual relationship
2025-01-0889.6293.26+0.14near the usual relationship
2025-01-0788.4591.65+0.22near the usual relationship
2025-01-0688.0892.31+0.01near the usual relationship
2025-01-0389.2592.92+0.14near the usual relationship
2025-01-0289.2891.97+0.34near the usual relationship
2024-12-3189.2291.92+0.34near the usual relationship
2024-12-3089.1991.89+0.34near the usual relationship
2024-12-2789.7291.40+0.55DUK ahead
2024-12-2689.6991.45+0.54DUK ahead
2024-12-2490.2491.62+0.62DUK ahead
2024-12-2389.9091.16+0.65DUK ahead
2024-12-2089.6790.40+0.76DUK ahead
2024-12-1988.6790.82+0.47near the usual relationship
2024-12-1887.5889.28+0.56DUK ahead
2024-12-1789.3489.18+0.95DUK ahead
2024-12-1688.9788.45+1.04DUK ahead
2024-12-1390.1190.04+0.95DUK ahead
2024-12-1290.3989.94+1.02DUK ahead
2024-12-1190.7589.77+1.13DUK ahead
2024-12-1092.0191.14+1.11DUK ahead
2024-12-0992.6391.43+1.17DUK ahead
2024-12-0692.8392.43+1.02DUK ahead
2024-12-0594.4192.75+1.26DUK ahead
2024-12-0493.8192.43+1.21DUK ahead
2024-12-0394.1093.14+1.14DUK ahead
2024-12-0295.3893.70+1.26DUK ahead
2024-11-2996.9396.61+1.03DUK ahead
2024-11-2797.2396.48+1.10DUK ahead
2024-11-2696.9296.43+1.06DUK ahead
2024-11-2595.2395.56+0.93DUK ahead
2024-11-2294.9894.53+1.06DUK ahead
2024-11-2195.1196.00+0.85DUK ahead
2024-11-2094.1994.58+0.92DUK ahead
2024-11-1994.0595.48+0.77DUK ahead
2024-11-1894.0295.80+0.71DUK ahead
2024-11-1592.8995.51+0.59DUK ahead
2024-11-1491.6593.09+0.77DUK ahead
2024-11-1392.1793.14+0.84DUK ahead
2024-11-1292.6593.19+0.91DUK ahead
2024-11-1193.1393.77+0.89DUK ahead
2024-11-0893.7693.06+1.09DUK ahead
2024-11-0791.9893.02+0.85DUK ahead
2024-11-0694.1093.58+1.07DUK ahead
2024-11-0594.4793.94+1.07DUK ahead
2024-11-0493.1892.72+1.06DUK ahead
2024-11-0193.3193.16+1.03DUK ahead
2024-10-3195.4595.97+0.94DUK ahead
2024-10-3094.4096.95+0.68DUK ahead
2024-10-2994.7496.58+0.78DUK ahead
2024-10-2896.9498.24+0.86DUK ahead
2024-10-2597.0697.85+0.93DUK ahead
2024-10-2498.5699.41+0.93DUK ahead
2024-10-2399.8499.49+1.08DUK ahead
2024-10-2299.2798.97+1.07DUK ahead
2024-10-2199.2898.90+1.09DUK ahead
2024-10-18100.00100.00+1.05DUK ahead

One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Feb 12, 2026 (DUK +0.7%, EXC +7.0%); Apr 30, 2026 (DUK +2.4%, EXC -2.2%). Upcoming earnings: EXC Oct 30, 2026 (pre-market); DUK Nov 5, 2026 (pre-market).

Paired trades

The shared paper book and the replay, kept apart

Forward paper record

LegsSignalEnteredStatusExitNet
Long EXC · Short DUKOct 19, 2026 (2.01 sd)Oct 20, 2026open-$27.70 if closed now

Historical simulation (a diagnostic, same rules)

2 simulated trades to Oct 20, 2026: -6.19% per trade on average after costs, 0 won. One simulated trade is still open (entered Sep 24, 2026).

LegsEnteredExitedWhyDaysBefore costsCosts + borrowAfter costs
Long DUK · Short EXCMar 8, 2023Jul 11, 2023divergence stop125-$411.33-$60.67-$448.88 (-4.49%)
Long DUK · Short EXCOct 1, 2021Nov 4, 2021divergence stop34-$729.88-$50.20-$789.98 (-7.90%)

Per $10,000 a leg. A replay on today's companies cannot prove an edge.

The companies

DUK and EXC at a glance

DUK Duke Energy Corporation (Holding Company)

Listing
NYSE · SEC CIK 1326160
Industry
Power Generation · SIC 4931 Electric & Other Services Combined
Market value
$93.0B
Price history
2,521 daily closes, Oct 12, 2016 to Oct 22, 2026

EXC Exelon Corporation

Listing
Nasdaq · SEC CIK 1109357
Industry
Power Generation · SIC 4931 Electric & Other Services Combined
Market value
$43.8B
Price history
2,521 daily closes, Oct 12, 2016 to Oct 22, 2026

Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.

Related
All pairs →
PairStatusAhead nowIndustry
XEL / EXCMeasured twinXEL by 1.02 sdPower Generation
DUK / XELMeasured twinDUK by 0.29 sdPower Generation

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Paper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.