Exelon Corporation vs Xcel Energy Inc.
Measured twinEXC / XELPrices through Oct 22, 2026
Why these are rivals: #2 and #3 by market value ($47B vs $44B) in Nasdaq's "Power Generation" industry; SEC SIC 4931 / 4931 (same major group); #2 and #3 by market value ($47B 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 = -1.02 (needs |z| >= 2.0)
Business leadership
EXC is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | EXC | XEL | Larger |
|---|---|---|---|
| 2025 | $24.3B | $14.7B | EXC |
| 2024 | $23.0B | $13.4B | EXC |
| 2023 | $21.7B | $14.2B | EXC |
| 2022 | $19.1B | $15.3B | EXC |
| 2021 | $17.9B | $13.4B | EXC |
| 2020 | $16.7B | $11.5B | EXC |
EXC led in every year with figures for both. Market value: EXC $43.8B, XEL $46.9B.
Stock leadership
XEL is ahead now
Measured against the pair's own last 252 trading days.
XEL leads EXC by 1.02 standard deviations: +2.4% over its usual price ratio. 4 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| EXC | -5.6% | -4.1% | -6.6% |
| XEL | -3.4% | -0.7% | -2.2% |
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: 0.63 (needs >= 0.60)
- Pass
- Mean reversion: ADF t-statistic of the spread: -3.17 (needs <= -2.873 (5% critical value))
- Pass
- Speed: half-life of the spread, sessions: 6.71 (needs <= 63)
- Data
- Both stocks current
The twins over two years
Prices side by side, and the gap between them
EXC Exelon Corporation XEL Xcel Energy Inc.Price index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
Spread z-score: EXC relative to XEL, against the 252 sessions before each day. Above 0: EXC ahead; below 0: XEL ahead. Lines at +/-2 (idea) and +/-4 (stop).
Data table (504 sessions)
| Date | EXC index | XEL index | z | Ahead |
|---|---|---|---|---|
| 2026-10-22 | 109.52 | 123.15 | -1.02 | XEL ahead |
| 2026-10-21 | 105.13 | 119.84 | -1.62 | XEL ahead |
| 2026-10-20 | 105.08 | 119.68 | -1.60 | XEL ahead |
| 2026-10-19 | 103.57 | 117.28 | -1.36 | XEL ahead |
| 2026-10-16 | 106.23 | 119.10 | -0.94 | XEL ahead |
| 2026-10-15 | 103.74 | 117.25 | -1.30 | XEL ahead |
| 2026-10-14 | 104.03 | 117.62 | -1.32 | XEL ahead |
| 2026-10-13 | 103.39 | 116.50 | -1.18 | XEL ahead |
| 2026-10-12 | 102.86 | 115.76 | -1.14 | XEL ahead |
| 2026-10-09 | 101.98 | 115.15 | -1.28 | XEL ahead |
| 2026-10-08 | 101.90 | 114.50 | -1.07 | XEL ahead |
| 2026-10-07 | 101.32 | 113.03 | -0.75 | XEL ahead |
| 2026-10-06 | 101.78 | 113.52 | -0.73 | XEL ahead |
| 2026-10-05 | 99.68 | 111.58 | -0.89 | XEL ahead |
| 2026-10-02 | 99.46 | 111.44 | -0.92 | XEL ahead |
| 2026-10-01 | 98.83 | 110.11 | -0.67 | XEL ahead |
| 2026-09-30 | 98.66 | 110.00 | -0.69 | XEL ahead |
| 2026-09-29 | 99.27 | 110.33 | -0.54 | XEL ahead |
| 2026-09-28 | 98.46 | 108.30 | -0.10 | near the usual relationship |
| 2026-09-25 | 98.51 | 108.94 | -0.32 | near the usual relationship |
| 2026-09-24 | 98.17 | 108.57 | -0.33 | near the usual relationship |
| 2026-09-23 | 99.37 | 110.29 | -0.49 | near the usual relationship |
| 2026-09-22 | 102.08 | 112.47 | -0.19 | near the usual relationship |
| 2026-09-21 | 102.52 | 112.14 | +0.11 | near the usual relationship |
| 2026-09-18 | 102.74 | 112.85 | -0.06 | near the usual relationship |
| 2026-09-17 | 104.13 | 114.92 | -0.27 | near the usual relationship |
| 2026-09-16 | 103.64 | 113.49 | +0.06 | near the usual relationship |
| 2026-09-15 | 103.04 | 113.14 | -0.06 | near the usual relationship |
| 2026-09-14 | 104.32 | 115.75 | -0.50 | XEL ahead |
| 2026-09-11 | 105.40 | 117.84 | -0.82 | XEL ahead |
| 2026-09-10 | 105.96 | 117.70 | -0.56 | XEL ahead |
| 2026-09-09 | 106.72 | 118.92 | -0.69 | XEL ahead |
| 2026-09-08 | 107.33 | 119.99 | -0.84 | XEL ahead |
| 2026-09-04 | 106.57 | 118.18 | -0.51 | XEL ahead |
| 2026-09-03 | 108.74 | 119.15 | -0.02 | near the usual relationship |
| 2026-09-02 | 107.37 | 117.86 | -0.09 | near the usual relationship |
| 2026-09-01 | 107.03 | 118.45 | -0.43 | near the usual relationship |
| 2026-08-31 | 106.76 | 118.14 | -0.43 | near the usual relationship |
| 2026-08-28 | 107.28 | 119.32 | -0.65 | XEL ahead |
| 2026-08-27 | 107.35 | 120.43 | -1.00 | XEL ahead |
| 2026-08-26 | 108.52 | 121.24 | -0.84 | XEL ahead |
| 2026-08-25 | 108.21 | 120.48 | -0.71 | XEL ahead |
| 2026-08-24 | 108.28 | 120.70 | -0.77 | XEL ahead |
| 2026-08-21 | 106.91 | 119.09 | -0.74 | XEL ahead |
| 2026-08-20 | 110.04 | 122.85 | -0.84 | XEL ahead |
| 2026-08-19 | 110.62 | 123.94 | -0.99 | XEL ahead |
| 2026-08-18 | 110.65 | 123.57 | -0.86 | XEL ahead |
| 2026-08-17 | 111.28 | 123.63 | -0.67 | XEL ahead |
| 2026-08-14 | 111.99 | 123.57 | -0.41 | near the usual relationship |
| 2026-08-13 | 111.36 | 123.27 | -0.54 | XEL ahead |
| 2026-08-12 | 110.43 | 122.68 | -0.68 | XEL ahead |
| 2026-08-11 | 109.57 | 121.21 | -0.53 | XEL ahead |
| 2026-08-10 | 108.67 | 119.98 | -0.46 | near the usual relationship |
| 2026-08-07 | 111.38 | 121.85 | -0.13 | near the usual relationship |
| 2026-08-06 | 110.67 | 120.13 | +0.15 | near the usual relationship |
| 2026-08-05 | 111.75 | 120.49 | +0.39 | near the usual relationship |
| 2026-08-04 | 111.94 | 121.35 | +0.19 | near the usual relationship |
| 2026-08-03 | 111.43 | 121.26 | +0.05 | near the usual relationship |
| 2026-07-31 | 111.89 | 122.05 | -0.05 | near the usual relationship |
| 2026-07-30 | 111.31 | 122.10 | -0.25 | near the usual relationship |
| 2026-07-29 | 114.85 | 122.91 | +0.63 | EXC ahead |
| 2026-07-28 | 115.53 | 125.38 | +0.12 | near the usual relationship |
| 2026-07-27 | 115.14 | 125.97 | -0.17 | near the usual relationship |
| 2026-07-24 | 116.07 | 127.47 | -0.31 | near the usual relationship |
| 2026-07-23 | 115.46 | 126.07 | -0.11 | near the usual relationship |
| 2026-07-22 | 114.04 | 125.16 | -0.29 | near the usual relationship |
| 2026-07-21 | 112.06 | 122.87 | -0.27 | near the usual relationship |
| 2026-07-20 | 112.23 | 122.79 | -0.20 | near the usual relationship |
| 2026-07-17 | 112.97 | 122.94 | -0.02 | near the usual relationship |
| 2026-07-16 | 114.26 | 124.83 | -0.16 | near the usual relationship |
| 2026-07-15 | 111.70 | 123.69 | -0.63 | XEL ahead |
| 2026-07-14 | 114.58 | 125.13 | -0.17 | near the usual relationship |
| 2026-07-13 | 114.99 | 125.61 | -0.18 | near the usual relationship |
| 2026-07-10 | 114.29 | 124.96 | -0.22 | near the usual relationship |
| 2026-07-09 | 113.26 | 123.33 | -0.10 | near the usual relationship |
| 2026-07-08 | 115.46 | 124.27 | +0.26 | near the usual relationship |
| 2026-07-07 | 116.17 | 125.91 | +0.03 | near the usual relationship |
| 2026-07-06 | 114.90 | 125.44 | -0.21 | near the usual relationship |
| 2026-07-02 | 116.92 | 127.92 | -0.28 | near the usual relationship |
| 2026-07-01 | 112.97 | 124.40 | -0.48 | near the usual relationship |
| 2026-06-30 | 113.85 | 125.33 | -0.48 | near the usual relationship |
| 2026-06-29 | 115.14 | 127.95 | -0.77 | XEL ahead |
| 2026-06-26 | 115.75 | 128.34 | -0.71 | XEL ahead |
| 2026-06-25 | 114.16 | 127.59 | -0.96 | XEL ahead |
| 2026-06-24 | 114.53 | 127.16 | -0.76 | XEL ahead |
| 2026-06-23 | 113.85 | 125.38 | -0.53 | XEL ahead |
| 2026-06-22 | 112.19 | 123.01 | -0.41 | near the usual relationship |
| 2026-06-18 | 111.87 | 120.82 | +0.02 | near the usual relationship |
| 2026-06-17 | 111.26 | 120.90 | -0.16 | near the usual relationship |
| 2026-06-16 | 113.77 | 123.27 | -0.09 | near the usual relationship |
| 2026-06-15 | 112.77 | 123.85 | -0.47 | near the usual relationship |
| 2026-06-12 | 112.84 | 123.65 | -0.42 | near the usual relationship |
| 2026-06-11 | 111.14 | 122.16 | -0.51 | XEL ahead |
| 2026-06-10 | 111.38 | 121.90 | -0.40 | near the usual relationship |
| 2026-06-09 | 110.70 | 121.54 | -0.49 | near the usual relationship |
| 2026-06-08 | 109.40 | 121.15 | -0.73 | XEL ahead |
| 2026-06-05 | 111.72 | 123.37 | -0.66 | XEL ahead |
| 2026-06-04 | 108.99 | 121.38 | -0.90 | XEL ahead |
| 2026-06-03 | 110.09 | 120.79 | -0.50 | XEL ahead |
| 2026-06-02 | 109.89 | 121.54 | -0.72 | XEL ahead |
| 2026-06-01 | 109.18 | 119.26 | -0.39 | near the usual relationship |
| 2026-05-29 | 111.45 | 124.08 | -0.91 | XEL ahead |
| 2026-05-28 | 111.31 | 123.71 | -0.87 | XEL ahead |
| 2026-05-27 | 112.80 | 126.42 | -1.11 | XEL ahead |
| 2026-05-26 | 112.41 | 126.08 | -1.13 | XEL ahead |
| 2026-05-22 | 112.89 | 126.55 | -1.13 | XEL ahead |
| 2026-05-21 | 110.74 | 125.18 | -1.36 | XEL ahead |
| 2026-05-20 | 109.57 | 124.64 | -1.54 | XEL ahead |
| 2026-05-19 | 108.96 | 124.44 | -1.67 | XEL ahead |
| 2026-05-18 | 107.37 | 121.90 | -1.52 | XEL ahead |
| 2026-05-15 | 105.93 | 121.62 | -1.84 | XEL ahead |
| 2026-05-14 | 108.42 | 124.91 | -1.96 | XEL ahead |
| 2026-05-13 | 108.11 | 124.72 | -2.01 | XEL ahead |
| 2026-05-12 | 109.84 | 124.71 | -1.58 | XEL ahead |
| 2026-05-11 | 107.91 | 125.80 | -2.33 | XEL ahead |
| 2026-05-08 | 107.23 | 123.91 | -2.10 | XEL ahead |
| 2026-05-07 | 108.45 | 125.53 | -2.16 | XEL ahead |
| 2026-05-06 | 109.94 | 125.72 | -1.84 | XEL ahead |
| 2026-05-05 | 112.77 | 127.13 | -1.46 | XEL ahead |
| 2026-05-04 | 113.82 | 126.69 | -1.12 | XEL ahead |
| 2026-05-01 | 113.55 | 128.89 | -1.64 | XEL ahead |
| 2026-04-30 | 112.31 | 129.47 | -2.06 | XEL ahead |
| 2026-04-29 | 114.82 | 123.02 | -0.15 | near the usual relationship |
| 2026-04-28 | 114.87 | 124.05 | -0.36 | near the usual relationship |
| 2026-04-27 | 113.77 | 123.94 | -0.59 | XEL ahead |
| 2026-04-24 | 114.58 | 123.54 | -0.34 | near the usual relationship |
| 2026-04-23 | 114.16 | 124.05 | -0.54 | XEL ahead |
| 2026-04-22 | 111.99 | 121.91 | -0.59 | XEL ahead |
| 2026-04-21 | 112.99 | 123.43 | -0.67 | XEL ahead |
| 2026-04-20 | 113.31 | 125.36 | -0.98 | XEL ahead |
| 2026-04-17 | 114.82 | 126.55 | -0.89 | XEL ahead |
| 2026-04-16 | 116.21 | 126.50 | -0.61 | XEL ahead |
| 2026-04-15 | 116.92 | 122.76 | +0.22 | near the usual relationship |
| 2026-04-14 | 118.83 | 124.60 | +0.24 | near the usual relationship |
| 2026-04-13 | 117.58 | 125.57 | -0.18 | near the usual relationship |
| 2026-04-10 | 118.61 | 128.58 | -0.53 | XEL ahead |
| 2026-04-09 | 120.73 | 129.19 | -0.24 | near the usual relationship |
| 2026-04-08 | 120.07 | 127.14 | -0.02 | near the usual relationship |
| 2026-04-07 | 119.78 | 125.71 | +0.17 | near the usual relationship |
| 2026-04-06 | 119.51 | 125.47 | +0.16 | near the usual relationship |
| 2026-04-02 | 120.46 | 126.02 | +0.23 | near the usual relationship |
| 2026-04-01 | 119.37 | 124.41 | +0.30 | near the usual relationship |
| 2026-03-31 | 119.71 | 123.99 | +0.43 | near the usual relationship |
| 2026-03-30 | 119.93 | 123.56 | +0.54 | EXC ahead |
| 2026-03-27 | 118.00 | 121.88 | +0.48 | near the usual relationship |
| 2026-03-26 | 118.19 | 121.63 | +0.56 | EXC ahead |
| 2026-03-25 | 116.41 | 121.27 | +0.30 | near the usual relationship |
| 2026-03-24 | 115.48 | 121.68 | +0.05 | near the usual relationship |
| 2026-03-23 | 115.19 | 120.10 | +0.27 | near the usual relationship |
| 2026-03-20 | 113.41 | 119.82 | -0.02 | near the usual relationship |
| 2026-03-19 | 117.24 | 124.13 | -0.06 | near the usual relationship |
| 2026-03-18 | 120.27 | 124.89 | +0.34 | near the usual relationship |
| 2026-03-17 | 122.20 | 127.06 | +0.31 | near the usual relationship |
| 2026-03-16 | 122.81 | 127.41 | +0.36 | near the usual relationship |
| 2026-03-13 | 121.66 | 127.84 | +0.09 | near the usual relationship |
| 2026-03-12 | 120.83 | 126.14 | +0.22 | near the usual relationship |
| 2026-03-11 | 119.27 | 126.42 | -0.10 | near the usual relationship |
| 2026-03-10 | 119.68 | 127.80 | -0.26 | near the usual relationship |
| 2026-03-09 | 120.00 | 128.14 | -0.27 | near the usual relationship |
| 2026-03-06 | 120.54 | 128.80 | -0.29 | near the usual relationship |
| 2026-03-05 | 119.10 | 128.58 | -0.51 | XEL ahead |
| 2026-03-04 | 120.27 | 129.61 | -0.47 | near the usual relationship |
| 2026-03-03 | 119.56 | 129.81 | -0.63 | XEL ahead |
| 2026-03-02 | 120.07 | 130.79 | -0.71 | XEL ahead |
| 2026-02-27 | 120.81 | 130.11 | -0.47 | near the usual relationship |
| 2026-02-26 | 119.17 | 130.28 | -0.79 | XEL ahead |
| 2026-02-25 | 118.93 | 130.40 | -0.86 | XEL ahead |
| 2026-02-24 | 118.66 | 130.97 | -1.01 | XEL ahead |
| 2026-02-23 | 117.70 | 130.09 | -1.04 | XEL ahead |
| 2026-02-20 | 116.70 | 127.28 | -0.77 | XEL ahead |
| 2026-02-19 | 115.65 | 126.14 | -0.77 | XEL ahead |
| 2026-02-18 | 115.36 | 124.36 | -0.53 | XEL ahead |
| 2026-02-17 | 117.31 | 126.03 | -0.46 | near the usual relationship |
| 2026-02-13 | 118.39 | 127.35 | -0.49 | near the usual relationship |
| 2026-02-12 | 116.12 | 123.27 | -0.22 | near the usual relationship |
| 2026-02-11 | 108.55 | 121.62 | -1.37 | XEL ahead |
| 2026-02-10 | 109.01 | 120.96 | -1.17 | XEL ahead |
| 2026-02-09 | 107.37 | 119.29 | -1.21 | XEL ahead |
| 2026-02-06 | 108.25 | 118.46 | -0.89 | XEL ahead |
| 2026-02-05 | 107.59 | 118.81 | -1.09 | XEL ahead |
| 2026-02-04 | 106.06 | 118.93 | -1.43 | XEL ahead |
| 2026-02-03 | 107.47 | 118.54 | -1.08 | XEL ahead |
| 2026-02-02 | 107.23 | 116.28 | -0.71 | XEL ahead |
| 2026-01-30 | 109.35 | 118.71 | -0.74 | XEL ahead |
| 2026-01-29 | 108.45 | 118.57 | -0.90 | XEL ahead |
| 2026-01-28 | 109.30 | 118.64 | -0.74 | XEL ahead |
| 2026-01-27 | 109.47 | 119.14 | -0.80 | XEL ahead |
| 2026-01-26 | 108.79 | 118.20 | -0.76 | XEL ahead |
| 2026-01-23 | 107.59 | 117.08 | -0.80 | XEL ahead |
| 2026-01-22 | 108.91 | 118.40 | -0.78 | XEL ahead |
| 2026-01-21 | 109.89 | 119.42 | -0.77 | XEL ahead |
| 2026-01-20 | 109.77 | 118.95 | -0.71 | XEL ahead |
| 2026-01-16 | 109.23 | 118.01 | -0.65 | XEL ahead |
| 2026-01-15 | 107.81 | 117.62 | -0.86 | XEL ahead |
| 2026-01-14 | 106.47 | 118.93 | -1.37 | XEL ahead |
| 2026-01-13 | 105.79 | 116.97 | -1.16 | XEL ahead |
| 2026-01-12 | 104.76 | 115.50 | -1.09 | XEL ahead |
| 2026-01-09 | 105.74 | 115.90 | -0.96 | XEL ahead |
| 2026-01-08 | 106.11 | 114.53 | -0.63 | XEL ahead |
| 2026-01-07 | 104.98 | 114.28 | -0.81 | XEL ahead |
| 2026-01-06 | 107.06 | 116.17 | -0.73 | XEL ahead |
| 2026-01-05 | 106.32 | 115.61 | -0.76 | XEL ahead |
| 2026-01-02 | 107.25 | 116.56 | -0.74 | XEL ahead |
| 2025-12-31 | 106.45 | 115.28 | -0.66 | XEL ahead |
| 2025-12-30 | 107.25 | 115.80 | -0.58 | XEL ahead |
| 2025-12-29 | 106.54 | 115.69 | -0.69 | XEL ahead |
| 2025-12-26 | 106.37 | 116.15 | -0.80 | XEL ahead |
| 2025-12-24 | 106.28 | 115.64 | -0.71 | XEL ahead |
| 2025-12-23 | 106.13 | 115.51 | -0.71 | XEL ahead |
| 2025-12-22 | 106.35 | 115.26 | -0.61 | XEL ahead |
| 2025-12-19 | 106.62 | 113.42 | -0.23 | near the usual relationship |
| 2025-12-18 | 108.13 | 114.89 | -0.19 | near the usual relationship |
| 2025-12-17 | 107.99 | 114.16 | -0.08 | near the usual relationship |
| 2025-12-16 | 106.86 | 115.08 | -0.43 | near the usual relationship |
| 2025-12-15 | 107.13 | 118.18 | -0.88 | XEL ahead |
| 2025-12-12 | 106.40 | 117.29 | -0.85 | XEL ahead |
| 2025-12-11 | 105.23 | 116.56 | -0.93 | XEL ahead |
| 2025-12-10 | 105.69 | 116.47 | -0.83 | XEL ahead |
| 2025-12-09 | 106.86 | 118.18 | -0.88 | XEL ahead |
| 2025-12-08 | 105.81 | 118.20 | -1.05 | XEL ahead |
| 2025-12-05 | 106.98 | 120.46 | -1.18 | XEL ahead |
| 2025-12-04 | 107.23 | 121.38 | -1.27 | XEL ahead |
| 2025-12-03 | 108.77 | 122.35 | -1.15 | XEL ahead |
| 2025-12-02 | 109.89 | 123.37 | -1.10 | XEL ahead |
| 2025-12-01 | 111.58 | 124.44 | -0.98 | XEL ahead |
| 2025-11-28 | 115.07 | 128.16 | -0.95 | XEL ahead |
| 2025-11-26 | 113.72 | 126.81 | -0.96 | XEL ahead |
| 2025-11-25 | 111.79 | 125.47 | -1.07 | XEL ahead |
| 2025-11-24 | 112.89 | 125.27 | -0.86 | XEL ahead |
| 2025-11-21 | 111.72 | 124.35 | -0.91 | XEL ahead |
| 2025-11-20 | 110.89 | 124.07 | -1.00 | XEL ahead |
| 2025-11-19 | 111.26 | 124.35 | -0.98 | XEL ahead |
| 2025-11-18 | 113.26 | 126.42 | -0.95 | XEL ahead |
| 2025-11-17 | 113.80 | 126.91 | -0.93 | XEL ahead |
| 2025-11-14 | 112.19 | 125.77 | -1.02 | XEL ahead |
| 2025-11-13 | 110.99 | 125.08 | -1.11 | XEL ahead |
| 2025-11-12 | 112.16 | 125.99 | -1.05 | XEL ahead |
| 2025-11-11 | 110.96 | 126.67 | -1.33 | XEL ahead |
| 2025-11-10 | 111.01 | 125.49 | -1.16 | XEL ahead |
| 2025-11-07 | 112.84 | 126.28 | -0.99 | XEL ahead |
| 2025-11-06 | 111.62 | 125.71 | -1.10 | XEL ahead |
| 2025-11-05 | 112.70 | 126.72 | -1.08 | XEL ahead |
| 2025-11-04 | 113.26 | 127.35 | -1.08 | XEL ahead |
| 2025-11-03 | 112.82 | 126.83 | -1.09 | XEL ahead |
| 2025-10-31 | 112.63 | 126.69 | -1.11 | XEL ahead |
| 2025-10-30 | 114.95 | 127.35 | -0.85 | XEL ahead |
| 2025-10-29 | 115.26 | 124.38 | -0.39 | near the usual relationship |
| 2025-10-28 | 116.48 | 124.58 | -0.24 | near the usual relationship |
| 2025-10-27 | 117.39 | 125.94 | -0.30 | near the usual relationship |
| 2025-10-24 | 117.30 | 125.47 | -0.25 | near the usual relationship |
| 2025-10-23 | 116.24 | 125.50 | -0.41 | near the usual relationship |
| 2025-10-22 | 117.48 | 125.94 | -0.29 | near the usual relationship |
| 2025-10-21 | 117.22 | 125.86 | -0.33 | near the usual relationship |
| 2025-10-20 | 117.80 | 126.86 | -0.38 | near the usual relationship |
| 2025-10-17 | 116.68 | 126.67 | -0.53 | XEL ahead |
| 2025-10-16 | 115.65 | 126.58 | -0.67 | XEL ahead |
| 2025-10-15 | 116.80 | 127.67 | -0.66 | XEL ahead |
| 2025-10-14 | 115.70 | 126.19 | -0.62 | XEL ahead |
| 2025-10-13 | 114.41 | 125.11 | -0.68 | XEL ahead |
| 2025-10-10 | 114.95 | 126.31 | -0.77 | XEL ahead |
| 2025-10-09 | 113.94 | 126.83 | -0.99 | XEL ahead |
| 2025-10-08 | 113.85 | 127.75 | -1.14 | XEL ahead |
| 2025-10-07 | 114.26 | 127.75 | -1.09 | XEL ahead |
| 2025-10-06 | 111.58 | 126.42 | -1.33 | XEL ahead |
| 2025-10-03 | 110.72 | 125.27 | -1.32 | XEL ahead |
| 2025-10-02 | 109.82 | 124.24 | -1.33 | XEL ahead |
| 2025-10-01 | 110.04 | 125.35 | -1.46 | XEL ahead |
| 2025-09-30 | 109.91 | 125.88 | -1.57 | XEL ahead |
| 2025-09-29 | 108.11 | 124.94 | -1.75 | XEL ahead |
| 2025-09-26 | 107.67 | 123.74 | -1.67 | XEL ahead |
| 2025-09-25 | 106.91 | 120.57 | -1.34 | XEL ahead |
| 2025-09-24 | 108.01 | 121.63 | -1.33 | XEL ahead |
| 2025-09-23 | 108.01 | 114.00 | -0.16 | near the usual relationship |
| 2025-09-22 | 105.98 | 112.92 | -0.33 | near the usual relationship |
| 2025-09-19 | 106.01 | 112.55 | -0.27 | near the usual relationship |
| 2025-09-18 | 105.27 | 112.64 | -0.41 | near the usual relationship |
| 2025-09-17 | 105.57 | 112.46 | -0.34 | near the usual relationship |
| 2025-09-16 | 104.35 | 112.55 | -0.57 | XEL ahead |
| 2025-09-15 | 106.06 | 114.02 | -0.51 | XEL ahead |
| 2025-09-12 | 105.93 | 114.48 | -0.61 | XEL ahead |
| 2025-09-11 | 106.23 | 113.70 | -0.44 | near the usual relationship |
| 2025-09-10 | 105.79 | 112.86 | -0.38 | near the usual relationship |
| 2025-09-09 | 105.23 | 112.41 | -0.40 | near the usual relationship |
| 2025-09-08 | 105.05 | 111.99 | -0.37 | near the usual relationship |
| 2025-09-05 | 106.06 | 113.44 | -0.43 | near the usual relationship |
| 2025-09-04 | 105.84 | 112.75 | -0.36 | near the usual relationship |
| 2025-09-03 | 105.93 | 113.05 | -0.39 | near the usual relationship |
| 2025-09-02 | 105.91 | 112.60 | -0.33 | near the usual relationship |
| 2025-08-29 | 106.67 | 112.99 | -0.26 | near the usual relationship |
| 2025-08-28 | 106.86 | 112.91 | -0.22 | near the usual relationship |
| 2025-08-27 | 108.40 | 113.73 | -0.09 | near the usual relationship |
| 2025-08-26 | 108.47 | 113.22 | +0.00 | near the usual relationship |
| 2025-08-25 | 108.91 | 113.98 | -0.05 | near the usual relationship |
| 2025-08-22 | 109.79 | 115.90 | -0.21 | near the usual relationship |
| 2025-08-21 | 109.01 | 114.19 | -0.07 | near the usual relationship |
| 2025-08-20 | 109.60 | 114.20 | +0.02 | near the usual relationship |
| 2025-08-19 | 109.26 | 114.28 | -0.05 | near the usual relationship |
| 2025-08-18 | 107.45 | 112.70 | -0.10 | near the usual relationship |
| 2025-08-15 | 108.86 | 112.27 | +0.20 | near the usual relationship |
| 2025-08-14 | 109.04 | 112.99 | +0.11 | near the usual relationship |
| 2025-08-13 | 110.45 | 113.81 | +0.21 | near the usual relationship |
| 2025-08-12 | 108.94 | 112.99 | +0.09 | near the usual relationship |
| 2025-08-11 | 109.18 | 113.43 | +0.05 | near the usual relationship |
| 2025-08-08 | 110.67 | 114.45 | +0.13 | near the usual relationship |
| 2025-08-07 | 111.21 | 114.30 | +0.24 | near the usual relationship |
| 2025-08-06 | 110.04 | 114.41 | +0.03 | near the usual relationship |
| 2025-08-05 | 109.13 | 115.08 | -0.22 | near the usual relationship |
| 2025-08-04 | 110.31 | 115.87 | -0.16 | near the usual relationship |
| 2025-08-01 | 109.08 | 114.67 | -0.18 | near the usual relationship |
| 2025-07-31 | 109.74 | 114.62 | -0.06 | near the usual relationship |
| 2025-07-30 | 108.08 | 112.99 | -0.08 | near the usual relationship |
| 2025-07-29 | 108.18 | 112.91 | -0.06 | near the usual relationship |
| 2025-07-28 | 106.01 | 111.03 | -0.12 | near the usual relationship |
| 2025-07-25 | 107.42 | 113.41 | -0.27 | near the usual relationship |
| 2025-07-24 | 106.80 | 113.59 | -0.40 | near the usual relationship |
| 2025-07-23 | 106.20 | 113.16 | -0.44 | near the usual relationship |
| 2025-07-22 | 108.55 | 114.03 | -0.20 | near the usual relationship |
| 2025-07-21 | 106.79 | 111.71 | -0.13 | near the usual relationship |
| 2025-07-18 | 105.98 | 109.85 | +0.03 | near the usual relationship |
| 2025-07-17 | 104.88 | 108.71 | +0.02 | near the usual relationship |
| 2025-07-16 | 104.64 | 107.96 | +0.10 | near the usual relationship |
| 2025-07-15 | 104.88 | 106.65 | +0.35 | near the usual relationship |
| 2025-07-14 | 106.06 | 107.96 | +0.33 | near the usual relationship |
| 2025-07-11 | 106.25 | 107.10 | +0.49 | near the usual relationship |
| 2025-07-10 | 106.54 | 106.84 | +0.58 | EXC ahead |
| 2025-07-09 | 105.35 | 105.88 | +0.54 | EXC ahead |
| 2025-07-08 | 105.01 | 105.45 | +0.55 | EXC ahead |
| 2025-07-07 | 105.42 | 105.95 | +0.53 | EXC ahead |
| 2025-07-03 | 105.32 | 106.43 | +0.44 | near the usual relationship |
| 2025-07-02 | 104.81 | 105.45 | +0.51 | EXC ahead |
| 2025-07-01 | 106.01 | 107.24 | +0.41 | near the usual relationship |
| 2025-06-30 | 106.03 | 106.29 | +0.57 | EXC ahead |
| 2025-06-27 | 104.79 | 105.79 | +0.44 | near the usual relationship |
| 2025-06-26 | 103.81 | 105.74 | +0.29 | near the usual relationship |
| 2025-06-25 | 103.27 | 105.07 | +0.31 | near the usual relationship |
| 2025-06-24 | 105.25 | 106.49 | +0.40 | near the usual relationship |
| 2025-06-23 | 105.49 | 105.99 | +0.51 | EXC ahead |
| 2025-06-20 | 104.03 | 104.01 | +0.59 | EXC ahead |
| 2025-06-18 | 103.47 | 103.45 | +0.59 | EXC ahead |
| 2025-06-17 | 103.52 | 102.47 | +0.76 | EXC ahead |
| 2025-06-16 | 104.22 | 104.25 | +0.58 | EXC ahead |
| 2025-06-13 | 105.62 | 105.54 | +0.60 | EXC ahead |
| 2025-06-12 | 106.57 | 107.80 | +0.39 | near the usual relationship |
| 2025-06-11 | 104.71 | 106.52 | +0.29 | near the usual relationship |
| 2025-06-10 | 104.81 | 107.63 | +0.13 | near the usual relationship |
| 2025-06-09 | 103.05 | 106.73 | -0.02 | near the usual relationship |
| 2025-06-06 | 104.08 | 106.93 | +0.11 | near the usual relationship |
| 2025-06-05 | 104.66 | 107.02 | +0.18 | near the usual relationship |
| 2025-06-04 | 104.40 | 106.91 | +0.15 | near the usual relationship |
| 2025-06-03 | 106.13 | 108.21 | +0.22 | near the usual relationship |
| 2025-06-02 | 106.94 | 108.83 | +0.24 | near the usual relationship |
| 2025-05-30 | 107.01 | 109.41 | +0.16 | near the usual relationship |
| 2025-05-29 | 106.72 | 108.43 | +0.25 | near the usual relationship |
| 2025-05-28 | 105.69 | 107.59 | +0.22 | near the usual relationship |
| 2025-05-27 | 107.23 | 108.95 | +0.24 | near the usual relationship |
| 2025-05-23 | 106.64 | 108.83 | +0.16 | near the usual relationship |
| 2025-05-22 | 106.03 | 108.02 | +0.18 | near the usual relationship |
| 2025-05-21 | 107.91 | 109.13 | +0.29 | near the usual relationship |
| 2025-05-20 | 108.08 | 112.87 | -0.22 | near the usual relationship |
| 2025-05-19 | 108.40 | 112.70 | -0.16 | near the usual relationship |
| 2025-05-16 | 107.67 | 112.97 | -0.30 | near the usual relationship |
| 2025-05-15 | 106.06 | 111.22 | -0.30 | near the usual relationship |
| 2025-05-14 | 103.17 | 107.38 | -0.19 | near the usual relationship |
| 2025-05-13 | 104.93 | 106.62 | +0.17 | near the usual relationship |
| 2025-05-12 | 106.50 | 105.79 | +0.51 | EXC ahead |
| 2025-05-09 | 110.40 | 110.21 | +0.43 | near the usual relationship |
| 2025-05-08 | 110.13 | 109.52 | +0.48 | near the usual relationship |
| 2025-05-07 | 113.16 | 111.38 | +0.63 | EXC ahead |
| 2025-05-06 | 113.04 | 110.91 | +0.67 | EXC ahead |
| 2025-05-05 | 112.33 | 110.64 | +0.60 | EXC ahead |
| 2025-05-02 | 113.50 | 110.46 | +0.77 | EXC ahead |
| 2025-05-01 | 113.80 | 109.88 | +0.88 | EXC ahead |
| 2025-04-30 | 114.53 | 110.35 | +0.91 | EXC ahead |
| 2025-04-29 | 114.41 | 110.30 | +0.90 | EXC ahead |
| 2025-04-28 | 113.50 | 108.60 | +1.01 | EXC ahead |
| 2025-04-25 | 112.87 | 107.69 | +1.04 | EXC ahead |
| 2025-04-24 | 113.14 | 109.71 | +0.80 | EXC ahead |
| 2025-04-23 | 114.29 | 111.67 | +0.69 | EXC ahead |
| 2025-04-22 | 115.68 | 111.43 | +0.89 | EXC ahead |
| 2025-04-21 | 112.89 | 107.65 | +1.04 | EXC ahead |
| 2025-04-17 | 115.41 | 109.46 | +1.11 | EXC ahead |
| 2025-04-16 | 113.58 | 107.85 | +1.09 | EXC ahead |
| 2025-04-15 | 114.14 | 109.68 | +0.92 | EXC ahead |
| 2025-04-14 | 114.43 | 110.39 | +0.86 | EXC ahead |
| 2025-04-11 | 112.33 | 108.56 | +0.83 | EXC ahead |
| 2025-04-10 | 110.18 | 106.77 | +0.78 | EXC ahead |
| 2025-04-09 | 108.18 | 107.04 | +0.48 | near the usual relationship |
| 2025-04-08 | 108.64 | 104.64 | +0.86 | EXC ahead |
| 2025-04-07 | 109.13 | 104.67 | +0.91 | EXC ahead |
| 2025-04-04 | 110.74 | 105.96 | +0.94 | EXC ahead |
| 2025-04-03 | 115.34 | 112.60 | +0.65 | EXC ahead |
| 2025-04-02 | 112.26 | 110.66 | +0.51 | EXC ahead |
| 2025-04-01 | 112.14 | 110.38 | +0.52 | EXC ahead |
| 2025-03-31 | 112.53 | 110.49 | +0.55 | EXC ahead |
| 2025-03-28 | 109.18 | 108.82 | +0.34 | near the usual relationship |
| 2025-03-27 | 108.06 | 108.19 | +0.27 | near the usual relationship |
| 2025-03-26 | 107.50 | 107.57 | +0.27 | near the usual relationship |
| 2025-03-25 | 104.42 | 106.02 | +0.06 | near the usual relationship |
| 2025-03-24 | 106.42 | 107.48 | +0.13 | near the usual relationship |
| 2025-03-21 | 106.96 | 107.87 | +0.14 | near the usual relationship |
| 2025-03-20 | 108.89 | 109.40 | +0.19 | near the usual relationship |
| 2025-03-19 | 108.52 | 109.63 | +0.11 | near the usual relationship |
| 2025-03-18 | 108.47 | 109.69 | +0.09 | near the usual relationship |
| 2025-03-17 | 108.40 | 109.19 | +0.13 | near the usual relationship |
| 2025-03-14 | 107.91 | 108.87 | +0.11 | near the usual relationship |
| 2025-03-13 | 106.15 | 107.17 | +0.09 | near the usual relationship |
| 2025-03-12 | 104.05 | 107.46 | -0.21 | near the usual relationship |
| 2025-03-11 | 105.98 | 107.27 | +0.04 | near the usual relationship |
| 2025-03-10 | 106.86 | 108.24 | +0.02 | near the usual relationship |
| 2025-03-07 | 105.27 | 106.13 | +0.07 | near the usual relationship |
| 2025-03-06 | 104.71 | 105.60 | +0.06 | near the usual relationship |
| 2025-03-05 | 105.89 | 107.27 | +0.00 | near the usual relationship |
| 2025-03-04 | 106.67 | 109.30 | -0.15 | near the usual relationship |
| 2025-03-03 | 108.79 | 112.22 | -0.23 | near the usual relationship |
| 2025-02-28 | 107.94 | 112.53 | -0.37 | near the usual relationship |
| 2025-02-27 | 106.94 | 110.44 | -0.25 | near the usual relationship |
| 2025-02-26 | 107.59 | 109.21 | -0.03 | near the usual relationship |
| 2025-02-25 | 107.55 | 109.96 | -0.12 | near the usual relationship |
| 2025-02-24 | 105.86 | 110.47 | -0.37 | near the usual relationship |
| 2025-02-21 | 105.96 | 109.16 | -0.21 | near the usual relationship |
| 2025-02-20 | 105.42 | 108.19 | -0.16 | near the usual relationship |
| 2025-02-19 | 104.15 | 107.80 | -0.26 | near the usual relationship |
| 2025-02-18 | 104.27 | 106.98 | -0.15 | near the usual relationship |
| 2025-02-14 | 104.64 | 107.09 | -0.11 | near the usual relationship |
| 2025-02-13 | 104.93 | 106.76 | -0.04 | near the usual relationship |
| 2025-02-12 | 104.74 | 105.20 | +0.13 | near the usual relationship |
| 2025-02-11 | 103.44 | 104.87 | +0.02 | near the usual relationship |
| 2025-02-10 | 102.08 | 104.39 | -0.09 | near the usual relationship |
| 2025-02-07 | 100.88 | 103.95 | -0.18 | near the usual relationship |
| 2025-02-06 | 100.42 | 104.76 | -0.33 | near the usual relationship |
| 2025-02-05 | 100.22 | 106.06 | -0.50 | XEL ahead |
| 2025-02-04 | 99.00 | 105.07 | -0.53 | XEL ahead |
| 2025-02-03 | 99.07 | 105.74 | -0.60 | XEL ahead |
| 2025-01-31 | 97.68 | 104.89 | -0.67 | XEL ahead |
| 2025-01-30 | 97.73 | 104.35 | -0.60 | XEL ahead |
| 2025-01-29 | 96.63 | 103.12 | -0.59 | XEL ahead |
| 2025-01-28 | 97.22 | 103.68 | -0.58 | XEL ahead |
| 2025-01-27 | 99.39 | 106.12 | -0.60 | XEL ahead |
| 2025-01-24 | 96.17 | 103.96 | -0.75 | XEL ahead |
| 2025-01-23 | 95.82 | 103.11 | -0.69 | XEL ahead |
| 2025-01-22 | 95.78 | 104.54 | -0.86 | XEL ahead |
| 2025-01-21 | 98.75 | 105.63 | -0.62 | XEL ahead |
| 2025-01-17 | 96.26 | 104.14 | -0.75 | XEL ahead |
| 2025-01-16 | 96.07 | 103.32 | -0.68 | XEL ahead |
| 2025-01-15 | 92.84 | 101.36 | -0.86 | XEL ahead |
| 2025-01-14 | 92.60 | 100.02 | -0.73 | XEL ahead |
| 2025-01-13 | 91.72 | 99.30 | -0.76 | XEL ahead |
| 2025-01-10 | 91.09 | 98.91 | -0.80 | XEL ahead |
| 2025-01-08 | 93.26 | 103.62 | -1.08 | XEL ahead |
| 2025-01-07 | 91.65 | 102.45 | -1.15 | XEL ahead |
| 2025-01-06 | 92.31 | 101.67 | -0.97 | XEL ahead |
| 2025-01-03 | 92.92 | 104.09 | -1.17 | XEL ahead |
| 2025-01-02 | 91.97 | 104.35 | -1.33 | XEL ahead |
| 2024-12-31 | 91.92 | 105.38 | -1.46 | XEL ahead |
| 2024-12-30 | 91.89 | 105.49 | -1.48 | XEL ahead |
| 2024-12-27 | 91.40 | 106.35 | -1.65 | XEL ahead |
| 2024-12-26 | 91.45 | 106.41 | -1.66 | XEL ahead |
| 2024-12-24 | 91.62 | 106.46 | -1.65 | XEL ahead |
| 2024-12-23 | 91.16 | 105.70 | -1.63 | XEL ahead |
| 2024-12-20 | 90.40 | 105.20 | -1.68 | XEL ahead |
| 2024-12-19 | 90.82 | 104.03 | -1.49 | XEL ahead |
| 2024-12-18 | 89.28 | 103.64 | -1.65 | XEL ahead |
| 2024-12-17 | 89.18 | 106.26 | -1.99 | XEL ahead |
| 2024-12-16 | 88.45 | 105.60 | -2.04 | XEL ahead |
| 2024-12-13 | 90.04 | 106.32 | -1.92 | XEL ahead |
| 2024-12-12 | 89.94 | 106.90 | -2.03 | XEL ahead |
| 2024-12-11 | 89.77 | 106.70 | -2.05 | XEL ahead |
| 2024-12-10 | 91.14 | 107.93 | -2.03 | XEL ahead |
| 2024-12-09 | 91.43 | 107.87 | -2.01 | XEL ahead |
| 2024-12-06 | 92.43 | 108.85 | -2.01 | XEL ahead |
| 2024-12-05 | 92.75 | 110.60 | -2.20 | XEL ahead |
| 2024-12-04 | 92.43 | 110.38 | -2.25 | XEL ahead |
| 2024-12-03 | 93.14 | 110.82 | -2.23 | XEL ahead |
| 2024-12-02 | 93.70 | 111.13 | -2.22 | XEL ahead |
| 2024-11-29 | 96.61 | 113.25 | -2.09 | XEL ahead |
| 2024-11-27 | 96.48 | 113.81 | -2.20 | XEL ahead |
| 2024-11-26 | 96.43 | 112.17 | -2.03 | XEL ahead |
| 2024-11-25 | 95.56 | 111.75 | -2.14 | XEL ahead |
| 2024-11-22 | 94.53 | 111.36 | -2.27 | XEL ahead |
| 2024-11-21 | 96.00 | 111.41 | -2.08 | XEL ahead |
| 2024-11-20 | 94.58 | 109.33 | -2.05 | XEL ahead |
| 2024-11-19 | 95.48 | 108.58 | -1.84 | XEL ahead |
| 2024-11-18 | 95.80 | 109.16 | -1.89 | XEL ahead |
| 2024-11-15 | 95.51 | 108.41 | -1.85 | XEL ahead |
| 2024-11-14 | 93.09 | 107.55 | -2.14 | XEL ahead |
| 2024-11-13 | 93.14 | 107.15 | -2.10 | XEL ahead |
| 2024-11-12 | 93.19 | 107.09 | -2.12 | XEL ahead |
| 2024-11-11 | 93.77 | 107.15 | -2.05 | XEL ahead |
| 2024-11-08 | 93.06 | 105.15 | -1.90 | XEL ahead |
| 2024-11-07 | 93.02 | 103.32 | -1.66 | XEL ahead |
| 2024-11-06 | 93.58 | 103.78 | -1.65 | XEL ahead |
| 2024-11-05 | 93.94 | 103.53 | -1.57 | XEL ahead |
| 2024-11-04 | 92.72 | 102.73 | -1.67 | XEL ahead |
| 2024-11-01 | 93.16 | 104.09 | -1.82 | XEL ahead |
| 2024-10-31 | 95.97 | 104.28 | -1.39 | XEL ahead |
| 2024-10-30 | 96.95 | 98.41 | -0.32 | near the usual relationship |
| 2024-10-29 | 96.58 | 98.86 | -0.45 | near the usual relationship |
| 2024-10-28 | 98.24 | 100.64 | -0.47 | near the usual relationship |
| 2024-10-25 | 97.85 | 100.61 | -0.53 | XEL ahead |
| 2024-10-24 | 99.41 | 101.62 | -0.44 | near the usual relationship |
| 2024-10-23 | 99.49 | 100.39 | -0.24 | near the usual relationship |
| 2024-10-22 | 98.97 | 99.39 | -0.17 | near the usual relationship |
| 2024-10-21 | 98.90 | 99.00 | -0.12 | near the usual relationship |
| 2024-10-18 | 100.00 | 100.00 | -0.11 | near the usual relationship |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Oct 31, 2024 (EXC -1.0%, XEL +6.0%); Sep 24, 2025 (EXC +0.0%, XEL +6.7%); Feb 12, 2026 (EXC +7.0%, XEL +1.4%); Apr 30, 2026 (EXC -2.2%, XEL +5.2%). Upcoming earnings: XEL Oct 29, 2026 (pre-market); EXC Oct 30, 2026 (pre-market).
Paired trades
The shared paper book and the replay, kept apart
Forward paper record
No paper position on this pair yet.
Historical simulation (a diagnostic, same rules)
No simulated trade through Oct 20, 2026: the pair rarely passed every test while 2 standard deviations apart.
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
The companies
EXC and XEL at a glance
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
XEL Xcel Energy Inc.
- Listing
- Nasdaq · SEC CIK 72903
- Industry
- Power Generation · SIC 4931 Electric & Other Services Combined
- Market value
- $46.9B
- 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 →Other rivals of EXC and XEL
Follow the research behind the paper book
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Explore the private betaPaper 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.
