Duke Energy Corporation (Holding Company) vs Xcel Energy Inc.
Measured twinDUK / XELPrices through Nov 10, 2026
Why these are rivals: #1 and #2 by market value ($99B vs $51B) in Nasdaq's "Power Generation" industry; SEC SIC 4931 / 4931 (same major group); #1 and #2 by market value ($99B vs $51B) 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 = 0.85 (needs |z| >= 2.0)
Business leadership
DUK is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | DUK | XEL | Larger |
|---|---|---|---|
| 2025 | $31.7B | $14.7B | DUK |
| 2024 | $30.1B | $13.4B | DUK |
| 2023 | $28.7B | $14.2B | DUK |
| 2022 | $28.7B | $15.3B | DUK |
| 2021 | $24.5B | $13.4B | DUK |
| 2020 | $23.3B | $11.5B | DUK |
DUK led in every year with figures for both. Market value: DUK $98.6B, XEL $50.6B.
Stock leadership
DUK is ahead now
Measured against the pair's own last 252 trading days.
DUK leads XEL by 0.85 standard deviations: +1.7% over its usual price ratio. 3 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| DUK | +4.4% | +3.1% | +4.3% |
| XEL | +1.9% | +0.3% | -1.0% |
Relationship
The gap has closed before
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2534 (needs >= 254)
- Pass
- Co-movement: daily return correlation, 252 sessions: 0.80 (needs >= 0.60)
- Pass
- Mean reversion: ADF t-statistic of the spread: -3.19 (needs <= -2.873 (5% critical value))
- Pass
- Speed: half-life of the spread, sessions: 8.96 (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) XEL Xcel Energy Inc.Price index, 100 = 2024-11-06. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
Spread z-score: DUK relative to XEL, against the 252 sessions before each day. Above 0: DUK ahead; below 0: XEL ahead. Lines at +/-2 (idea) and +/-4 (stop).
Data table (504 sessions)
| Date | DUK index | XEL index | z | Ahead |
|---|---|---|---|---|
| 2026-11-10 | 113.47 | 120.50 | +0.85 | DUK ahead |
| 2026-11-09 | 112.73 | 120.57 | +0.49 | near the usual relationship |
| 2026-11-06 | 112.45 | 119.82 | +0.69 | DUK ahead |
| 2026-11-05 | 114.48 | 120.88 | +1.15 | DUK ahead |
| 2026-11-04 | 114.05 | 121.07 | +0.89 | DUK ahead |
| 2026-11-03 | 111.34 | 118.45 | +0.78 | DUK ahead |
| 2026-11-02 | 112.98 | 119.31 | +1.16 | DUK ahead |
| 2026-10-30 | 112.11 | 120.05 | +0.48 | near the usual relationship |
| 2026-10-29 | 110.80 | 118.88 | +0.39 | near the usual relationship |
| 2026-10-28 | 108.75 | 116.08 | +0.64 | DUK ahead |
| 2026-10-27 | 109.83 | 117.51 | +0.53 | DUK ahead |
| 2026-10-26 | 109.51 | 117.10 | +0.56 | DUK ahead |
| 2026-10-23 | 109.99 | 117.39 | +0.65 | DUK ahead |
| 2026-10-22 | 110.36 | 118.66 | +0.29 | near the usual relationship |
| 2026-10-21 | 106.20 | 115.48 | -0.27 | near the usual relationship |
| 2026-10-20 | 106.78 | 115.33 | +0.06 | near the usual relationship |
| 2026-10-19 | 104.96 | 113.01 | +0.22 | near the usual relationship |
| 2026-10-16 | 106.90 | 114.77 | +0.36 | near the usual relationship |
| 2026-10-15 | 104.62 | 112.98 | +0.08 | near the usual relationship |
| 2026-10-14 | 105.29 | 113.34 | +0.23 | near the usual relationship |
| 2026-10-13 | 104.01 | 112.26 | +0.11 | near the usual relationship |
| 2026-10-12 | 103.57 | 111.55 | +0.22 | near the usual relationship |
| 2026-10-09 | 102.66 | 110.96 | +0.05 | near the usual relationship |
| 2026-10-08 | 102.82 | 110.33 | +0.41 | near the usual relationship |
| 2026-10-07 | 101.65 | 108.92 | +0.48 | near the usual relationship |
| 2026-10-06 | 101.79 | 109.38 | +0.35 | near the usual relationship |
| 2026-10-05 | 100.18 | 107.52 | +0.42 | near the usual relationship |
| 2026-10-02 | 100.44 | 107.38 | +0.61 | DUK ahead |
| 2026-10-01 | 100.10 | 106.11 | +1.03 | DUK ahead |
| 2026-09-30 | 100.33 | 106.00 | +1.20 | DUK ahead |
| 2026-09-29 | 100.51 | 106.32 | +1.15 | DUK ahead |
| 2026-09-28 | 99.81 | 104.36 | +1.71 | DUK ahead |
| 2026-09-25 | 99.75 | 104.98 | +1.41 | DUK ahead |
| 2026-09-24 | 99.65 | 104.62 | +1.50 | DUK ahead |
| 2026-09-23 | 100.48 | 106.27 | +1.12 | DUK ahead |
| 2026-09-22 | 102.36 | 108.38 | +1.05 | DUK ahead |
| 2026-09-21 | 102.74 | 108.06 | +1.34 | DUK ahead |
| 2026-09-18 | 103.43 | 108.74 | +1.34 | DUK ahead |
| 2026-09-17 | 104.32 | 110.74 | +0.88 | DUK ahead |
| 2026-09-16 | 103.63 | 109.35 | +1.13 | DUK ahead |
| 2026-09-15 | 103.64 | 109.02 | +1.26 | DUK ahead |
| 2026-09-14 | 104.74 | 111.54 | +0.70 | DUK ahead |
| 2026-09-11 | 105.10 | 113.55 | +0.06 | near the usual relationship |
| 2026-09-10 | 105.05 | 113.42 | +0.09 | near the usual relationship |
| 2026-09-09 | 105.98 | 114.59 | +0.01 | near the usual relationship |
| 2026-09-08 | 106.70 | 115.63 | -0.09 | near the usual relationship |
| 2026-09-04 | 105.80 | 113.88 | +0.18 | near the usual relationship |
| 2026-09-03 | 106.84 | 114.81 | +0.23 | near the usual relationship |
| 2026-09-02 | 106.10 | 113.57 | +0.38 | near the usual relationship |
| 2026-09-01 | 105.95 | 114.14 | +0.11 | near the usual relationship |
| 2026-08-31 | 105.53 | 113.84 | +0.05 | near the usual relationship |
| 2026-08-28 | 105.83 | 114.98 | -0.24 | near the usual relationship |
| 2026-08-27 | 106.35 | 116.05 | -0.41 | near the usual relationship |
| 2026-08-26 | 107.27 | 116.83 | -0.34 | near the usual relationship |
| 2026-08-25 | 107.01 | 116.09 | -0.21 | near the usual relationship |
| 2026-08-24 | 107.34 | 116.30 | -0.17 | near the usual relationship |
| 2026-08-21 | 105.47 | 114.75 | -0.33 | near the usual relationship |
| 2026-08-20 | 107.97 | 118.38 | -0.61 | XEL ahead |
| 2026-08-19 | 108.77 | 119.43 | -0.67 | XEL ahead |
| 2026-08-18 | 109.12 | 119.07 | -0.45 | near the usual relationship |
| 2026-08-17 | 108.76 | 119.13 | -0.59 | XEL ahead |
| 2026-08-14 | 109.06 | 119.07 | -0.49 | near the usual relationship |
| 2026-08-13 | 109.56 | 118.78 | -0.26 | near the usual relationship |
| 2026-08-12 | 108.68 | 118.21 | -0.37 | near the usual relationship |
| 2026-08-11 | 108.41 | 116.80 | -0.06 | near the usual relationship |
| 2026-08-10 | 106.65 | 115.61 | -0.27 | near the usual relationship |
| 2026-08-07 | 109.87 | 117.42 | +0.18 | near the usual relationship |
| 2026-08-06 | 109.04 | 115.76 | +0.38 | near the usual relationship |
| 2026-08-05 | 108.55 | 116.11 | +0.13 | near the usual relationship |
| 2026-08-04 | 109.36 | 116.93 | +0.14 | near the usual relationship |
| 2026-08-03 | 109.37 | 116.84 | +0.16 | near the usual relationship |
| 2026-07-31 | 110.38 | 117.61 | +0.24 | near the usual relationship |
| 2026-07-30 | 111.12 | 117.66 | +0.43 | near the usual relationship |
| 2026-07-29 | 113.60 | 118.44 | +0.91 | DUK ahead |
| 2026-07-28 | 113.74 | 120.82 | +0.33 | near the usual relationship |
| 2026-07-27 | 113.38 | 121.39 | +0.08 | near the usual relationship |
| 2026-07-24 | 114.86 | 122.83 | +0.11 | near the usual relationship |
| 2026-07-23 | 113.76 | 121.48 | +0.15 | near the usual relationship |
| 2026-07-22 | 112.60 | 120.60 | +0.05 | near the usual relationship |
| 2026-07-21 | 110.81 | 118.39 | +0.12 | near the usual relationship |
| 2026-07-20 | 110.75 | 118.32 | +0.12 | near the usual relationship |
| 2026-07-17 | 110.01 | 118.47 | -0.13 | near the usual relationship |
| 2026-07-16 | 110.98 | 120.29 | -0.33 | near the usual relationship |
| 2026-07-15 | 109.43 | 119.19 | -0.49 | near the usual relationship |
| 2026-07-14 | 111.21 | 120.57 | -0.36 | near the usual relationship |
| 2026-07-13 | 111.64 | 121.04 | -0.36 | near the usual relationship |
| 2026-07-10 | 110.43 | 120.41 | -0.54 | XEL ahead |
| 2026-07-09 | 110.23 | 118.84 | -0.22 | near the usual relationship |
| 2026-07-08 | 111.58 | 119.75 | -0.10 | near the usual relationship |
| 2026-07-07 | 112.84 | 121.33 | -0.16 | near the usual relationship |
| 2026-07-06 | 110.86 | 120.88 | -0.55 | XEL ahead |
| 2026-07-02 | 114.05 | 123.27 | -0.32 | near the usual relationship |
| 2026-07-01 | 110.68 | 119.87 | -0.38 | near the usual relationship |
| 2026-06-30 | 111.40 | 120.77 | -0.41 | near the usual relationship |
| 2026-06-29 | 112.94 | 123.30 | -0.61 | XEL ahead |
| 2026-06-26 | 113.00 | 123.67 | -0.68 | XEL ahead |
| 2026-06-25 | 111.86 | 122.95 | -0.80 | XEL ahead |
| 2026-06-24 | 111.35 | 122.53 | -0.84 | XEL ahead |
| 2026-06-23 | 110.05 | 120.82 | -0.78 | XEL ahead |
| 2026-06-22 | 108.70 | 118.53 | -0.61 | XEL ahead |
| 2026-06-18 | 109.00 | 116.42 | -0.08 | near the usual relationship |
| 2026-06-17 | 108.89 | 116.50 | -0.13 | near the usual relationship |
| 2026-06-16 | 110.94 | 118.78 | -0.16 | near the usual relationship |
| 2026-06-15 | 110.25 | 119.34 | -0.44 | near the usual relationship |
| 2026-06-12 | 109.98 | 119.15 | -0.47 | near the usual relationship |
| 2026-06-11 | 109.29 | 117.72 | -0.33 | near the usual relationship |
| 2026-06-10 | 110.04 | 117.46 | -0.10 | near the usual relationship |
| 2026-06-09 | 108.97 | 117.12 | -0.28 | near the usual relationship |
| 2026-06-08 | 107.41 | 116.74 | -0.57 | XEL ahead |
| 2026-06-05 | 109.32 | 118.88 | -0.59 | XEL ahead |
| 2026-06-04 | 107.21 | 116.96 | -0.67 | XEL ahead |
| 2026-06-03 | 106.52 | 116.39 | -0.72 | XEL ahead |
| 2026-06-02 | 106.57 | 117.12 | -0.87 | XEL ahead |
| 2026-06-01 | 105.51 | 114.92 | -0.65 | XEL ahead |
| 2026-05-29 | 108.01 | 119.57 | -1.06 | XEL ahead |
| 2026-05-28 | 108.91 | 119.21 | -0.79 | XEL ahead |
| 2026-05-27 | 110.31 | 121.82 | -1.02 | XEL ahead |
| 2026-05-26 | 109.98 | 121.49 | -1.03 | XEL ahead |
| 2026-05-22 | 110.60 | 121.94 | -0.99 | XEL ahead |
| 2026-05-21 | 109.71 | 120.62 | -0.93 | XEL ahead |
| 2026-05-20 | 108.96 | 120.11 | -1.00 | XEL ahead |
| 2026-05-19 | 109.62 | 119.91 | -0.81 | XEL ahead |
| 2026-05-18 | 108.11 | 117.46 | -0.65 | XEL ahead |
| 2026-05-15 | 106.44 | 117.19 | -0.98 | XEL ahead |
| 2026-05-14 | 109.40 | 120.36 | -0.97 | XEL ahead |
| 2026-05-13 | 109.04 | 120.18 | -1.03 | XEL ahead |
| 2026-05-12 | 110.07 | 120.17 | -0.79 | XEL ahead |
| 2026-05-11 | 109.92 | 121.22 | -1.05 | XEL ahead |
| 2026-05-08 | 109.28 | 119.40 | -0.83 | XEL ahead |
| 2026-05-07 | 109.89 | 120.97 | -1.02 | XEL ahead |
| 2026-05-06 | 110.48 | 121.15 | -0.93 | XEL ahead |
| 2026-05-05 | 112.28 | 122.50 | -0.82 | XEL ahead |
| 2026-05-04 | 112.16 | 122.08 | -0.76 | XEL ahead |
| 2026-05-01 | 113.17 | 124.20 | -0.97 | XEL ahead |
| 2026-04-30 | 114.01 | 124.76 | -0.91 | XEL ahead |
| 2026-04-29 | 111.34 | 118.54 | -0.25 | near the usual relationship |
| 2026-04-28 | 112.47 | 119.54 | -0.21 | near the usual relationship |
| 2026-04-27 | 111.85 | 119.43 | -0.33 | near the usual relationship |
| 2026-04-24 | 112.00 | 119.04 | -0.22 | near the usual relationship |
| 2026-04-23 | 112.68 | 119.54 | -0.18 | near the usual relationship |
| 2026-04-22 | 110.23 | 117.48 | -0.30 | near the usual relationship |
| 2026-04-21 | 110.60 | 118.94 | -0.52 | XEL ahead |
| 2026-04-20 | 112.52 | 120.80 | -0.48 | near the usual relationship |
| 2026-04-17 | 112.67 | 121.94 | -0.68 | XEL ahead |
| 2026-04-16 | 113.20 | 121.90 | -0.57 | XEL ahead |
| 2026-04-15 | 112.63 | 118.29 | +0.01 | near the usual relationship |
| 2026-04-14 | 114.21 | 120.06 | -0.01 | near the usual relationship |
| 2026-04-13 | 114.76 | 121.00 | -0.08 | near the usual relationship |
| 2026-04-10 | 115.98 | 123.90 | -0.40 | near the usual relationship |
| 2026-04-09 | 117.05 | 124.48 | -0.30 | near the usual relationship |
| 2026-04-08 | 115.81 | 122.51 | -0.18 | near the usual relationship |
| 2026-04-07 | 116.01 | 121.13 | +0.11 | near the usual relationship |
| 2026-04-06 | 115.65 | 120.91 | +0.08 | near the usual relationship |
| 2026-04-02 | 116.36 | 121.43 | +0.12 | near the usual relationship |
| 2026-04-01 | 115.20 | 119.88 | +0.18 | near the usual relationship |
| 2026-03-31 | 115.23 | 119.48 | +0.26 | near the usual relationship |
| 2026-03-30 | 115.91 | 119.06 | +0.47 | near the usual relationship |
| 2026-03-27 | 114.40 | 117.45 | +0.48 | near the usual relationship |
| 2026-03-26 | 113.86 | 117.21 | +0.41 | near the usual relationship |
| 2026-03-25 | 112.79 | 116.86 | +0.26 | near the usual relationship |
| 2026-03-24 | 112.10 | 117.25 | +0.04 | near the usual relationship |
| 2026-03-23 | 112.07 | 115.73 | +0.32 | near the usual relationship |
| 2026-03-20 | 111.60 | 115.46 | +0.28 | near the usual relationship |
| 2026-03-19 | 114.18 | 119.61 | +0.00 | near the usual relationship |
| 2026-03-18 | 115.07 | 120.35 | +0.03 | near the usual relationship |
| 2026-03-17 | 117.00 | 122.44 | +0.01 | near the usual relationship |
| 2026-03-16 | 117.45 | 122.77 | +0.03 | near the usual relationship |
| 2026-03-13 | 117.18 | 123.19 | -0.10 | near the usual relationship |
| 2026-03-12 | 116.01 | 121.55 | -0.03 | near the usual relationship |
| 2026-03-11 | 114.43 | 121.82 | -0.38 | near the usual relationship |
| 2026-03-10 | 114.13 | 123.15 | -0.69 | XEL ahead |
| 2026-03-09 | 115.36 | 123.48 | -0.51 | XEL ahead |
| 2026-03-06 | 116.61 | 124.11 | -0.39 | near the usual relationship |
| 2026-03-05 | 115.82 | 123.90 | -0.51 | XEL ahead |
| 2026-03-04 | 116.06 | 124.89 | -0.64 | XEL ahead |
| 2026-03-03 | 115.66 | 125.09 | -0.76 | XEL ahead |
| 2026-03-02 | 115.84 | 126.03 | -0.89 | XEL ahead |
| 2026-02-27 | 115.15 | 125.37 | -0.91 | XEL ahead |
| 2026-02-26 | 113.73 | 125.54 | -1.23 | XEL ahead |
| 2026-02-25 | 113.46 | 125.66 | -1.31 | XEL ahead |
| 2026-02-24 | 113.05 | 126.20 | -1.50 | XEL ahead |
| 2026-02-23 | 112.46 | 125.36 | -1.48 | XEL ahead |
| 2026-02-20 | 111.57 | 122.65 | -1.17 | XEL ahead |
| 2026-02-19 | 111.21 | 121.55 | -1.05 | XEL ahead |
| 2026-02-18 | 110.22 | 119.84 | -0.94 | XEL ahead |
| 2026-02-17 | 111.51 | 121.45 | -0.98 | XEL ahead |
| 2026-02-13 | 112.82 | 122.71 | -0.96 | XEL ahead |
| 2026-02-12 | 110.98 | 118.78 | -0.60 | XEL ahead |
| 2026-02-11 | 110.18 | 117.19 | -0.47 | near the usual relationship |
| 2026-02-10 | 108.81 | 116.56 | -0.63 | XEL ahead |
| 2026-02-09 | 107.12 | 114.95 | -0.68 | XEL ahead |
| 2026-02-06 | 107.24 | 114.15 | -0.50 | XEL ahead |
| 2026-02-05 | 108.61 | 114.48 | -0.28 | near the usual relationship |
| 2026-02-04 | 107.55 | 114.60 | -0.53 | XEL ahead |
| 2026-02-03 | 107.08 | 114.23 | -0.56 | XEL ahead |
| 2026-02-02 | 105.16 | 112.05 | -0.54 | XEL ahead |
| 2026-01-30 | 106.79 | 114.39 | -0.66 | XEL ahead |
| 2026-01-29 | 106.39 | 114.26 | -0.72 | XEL ahead |
| 2026-01-28 | 105.82 | 114.32 | -0.86 | XEL ahead |
| 2026-01-27 | 105.86 | 114.80 | -0.95 | XEL ahead |
| 2026-01-26 | 104.53 | 113.90 | -1.07 | XEL ahead |
| 2026-01-23 | 103.34 | 112.81 | -1.11 | XEL ahead |
| 2026-01-22 | 103.59 | 114.09 | -1.32 | XEL ahead |
| 2026-01-21 | 105.05 | 115.07 | -1.21 | XEL ahead |
| 2026-01-20 | 105.21 | 114.62 | -1.09 | XEL ahead |
| 2026-01-16 | 104.92 | 113.72 | -0.98 | XEL ahead |
| 2026-01-15 | 104.64 | 113.34 | -0.97 | XEL ahead |
| 2026-01-14 | 104.44 | 114.60 | -1.28 | XEL ahead |
| 2026-01-13 | 103.31 | 112.71 | -1.16 | XEL ahead |
| 2026-01-12 | 102.71 | 111.29 | -1.00 | XEL ahead |
| 2026-01-09 | 102.79 | 111.69 | -1.07 | XEL ahead |
| 2026-01-08 | 103.25 | 110.36 | -0.70 | XEL ahead |
| 2026-01-07 | 102.25 | 110.12 | -0.87 | XEL ahead |
| 2026-01-06 | 103.62 | 111.94 | -0.95 | XEL ahead |
| 2026-01-05 | 102.80 | 111.40 | -1.02 | XEL ahead |
| 2026-01-02 | 103.35 | 112.32 | -1.09 | XEL ahead |
| 2025-12-31 | 103.15 | 111.08 | -0.88 | XEL ahead |
| 2025-12-30 | 103.56 | 111.58 | -0.89 | XEL ahead |
| 2025-12-29 | 103.42 | 111.48 | -0.90 | XEL ahead |
| 2025-12-26 | 103.12 | 111.93 | -1.07 | XEL ahead |
| 2025-12-24 | 103.39 | 111.43 | -0.90 | XEL ahead |
| 2025-12-23 | 102.78 | 111.31 | -1.02 | XEL ahead |
| 2025-12-22 | 102.35 | 111.07 | -1.07 | XEL ahead |
| 2025-12-19 | 101.70 | 109.29 | -0.84 | XEL ahead |
| 2025-12-18 | 103.45 | 110.71 | -0.74 | XEL ahead |
| 2025-12-17 | 103.34 | 110.00 | -0.62 | XEL ahead |
| 2025-12-16 | 101.72 | 110.89 | -1.17 | XEL ahead |
| 2025-12-15 | 102.73 | 113.88 | -1.58 | XEL ahead |
| 2025-12-12 | 101.47 | 113.02 | -1.70 | XEL ahead |
| 2025-12-11 | 100.67 | 112.32 | -1.76 | XEL ahead |
| 2025-12-10 | 100.33 | 112.23 | -1.83 | XEL ahead |
| 2025-12-09 | 101.42 | 113.88 | -1.94 | XEL ahead |
| 2025-12-08 | 101.40 | 113.90 | -1.97 | XEL ahead |
| 2025-12-05 | 102.54 | 116.08 | -2.18 | XEL ahead |
| 2025-12-04 | 103.82 | 116.96 | -2.09 | XEL ahead |
| 2025-12-03 | 104.39 | 117.90 | -2.17 | XEL ahead |
| 2025-12-02 | 105.33 | 118.88 | -2.18 | XEL ahead |
| 2025-12-01 | 106.27 | 119.91 | -2.20 | XEL ahead |
| 2025-11-28 | 109.07 | 123.49 | -2.31 | XEL ahead |
| 2025-11-26 | 108.62 | 122.20 | -2.17 | XEL ahead |
| 2025-11-25 | 107.30 | 120.91 | -2.24 | XEL ahead |
| 2025-11-24 | 107.45 | 120.71 | -2.19 | XEL ahead |
| 2025-11-21 | 108.07 | 119.82 | -1.87 | XEL ahead |
| 2025-11-20 | 107.84 | 119.55 | -1.88 | XEL ahead |
| 2025-11-19 | 107.57 | 119.82 | -2.03 | XEL ahead |
| 2025-11-18 | 108.95 | 121.82 | -2.15 | XEL ahead |
| 2025-11-17 | 110.16 | 122.29 | -1.97 | XEL ahead |
| 2025-11-14 | 107.99 | 121.19 | -2.30 | XEL ahead |
| 2025-11-13 | 108.77 | 120.53 | -1.98 | XEL ahead |
| 2025-11-12 | 109.04 | 121.40 | -2.13 | XEL ahead |
| 2025-11-11 | 108.84 | 122.06 | -2.37 | XEL ahead |
| 2025-11-10 | 108.18 | 120.92 | -2.31 | XEL ahead |
| 2025-11-07 | 108.83 | 121.69 | -2.35 | XEL ahead |
| 2025-11-06 | 109.13 | 121.13 | -2.17 | XEL ahead |
| 2025-11-05 | 108.92 | 122.11 | -2.50 | XEL ahead |
| 2025-11-04 | 108.98 | 122.71 | -2.67 | XEL ahead |
| 2025-11-03 | 108.84 | 122.21 | -2.62 | XEL ahead |
| 2025-10-31 | 109.39 | 122.08 | -2.45 | XEL ahead |
| 2025-10-30 | 110.19 | 122.71 | -2.41 | XEL ahead |
| 2025-10-29 | 109.38 | 119.85 | -1.94 | XEL ahead |
| 2025-10-28 | 110.58 | 120.05 | -1.67 | XEL ahead |
| 2025-10-27 | 112.20 | 121.36 | -1.55 | XEL ahead |
| 2025-10-24 | 112.09 | 120.91 | -1.46 | XEL ahead |
| 2025-10-23 | 112.00 | 120.94 | -1.49 | XEL ahead |
| 2025-10-22 | 113.55 | 121.36 | -1.20 | XEL ahead |
| 2025-10-21 | 112.94 | 121.28 | -1.32 | XEL ahead |
| 2025-10-20 | 113.47 | 122.24 | -1.40 | XEL ahead |
| 2025-10-17 | 113.11 | 122.06 | -1.45 | XEL ahead |
| 2025-10-16 | 112.12 | 121.97 | -1.67 | XEL ahead |
| 2025-10-15 | 113.24 | 123.03 | -1.64 | XEL ahead |
| 2025-10-14 | 112.49 | 121.60 | -1.52 | XEL ahead |
| 2025-10-13 | 110.97 | 120.56 | -1.66 | XEL ahead |
| 2025-10-10 | 111.78 | 121.72 | -1.74 | XEL ahead |
| 2025-10-09 | 109.75 | 122.21 | -2.34 | XEL ahead |
| 2025-10-08 | 110.21 | 123.10 | -2.45 | XEL ahead |
| 2025-10-07 | 110.50 | 123.10 | -2.42 | XEL ahead |
| 2025-10-06 | 109.46 | 121.82 | -2.42 | XEL ahead |
| 2025-10-03 | 108.72 | 120.71 | -2.39 | XEL ahead |
| 2025-10-02 | 106.99 | 119.72 | -2.64 | XEL ahead |
| 2025-10-01 | 107.71 | 120.79 | -2.74 | XEL ahead |
| 2025-09-30 | 108.91 | 121.30 | -2.59 | XEL ahead |
| 2025-09-29 | 108.07 | 120.39 | -2.63 | XEL ahead |
| 2025-09-26 | 108.26 | 119.24 | -2.34 | XEL ahead |
| 2025-09-25 | 107.65 | 116.18 | -1.80 | XEL ahead |
| 2025-09-24 | 108.81 | 117.21 | -1.75 | XEL ahead |
| 2025-09-23 | 108.33 | 109.85 | -0.11 | near the usual relationship |
| 2025-09-22 | 107.00 | 108.81 | -0.19 | near the usual relationship |
| 2025-09-19 | 106.56 | 108.45 | -0.22 | near the usual relationship |
| 2025-09-18 | 105.95 | 108.54 | -0.41 | near the usual relationship |
| 2025-09-17 | 106.57 | 108.36 | -0.21 | near the usual relationship |
| 2025-09-16 | 105.83 | 108.45 | -0.43 | near the usual relationship |
| 2025-09-15 | 107.69 | 109.87 | -0.31 | near the usual relationship |
| 2025-09-12 | 107.32 | 110.32 | -0.52 | XEL ahead |
| 2025-09-11 | 107.46 | 109.57 | -0.31 | near the usual relationship |
| 2025-09-10 | 106.79 | 108.75 | -0.29 | near the usual relationship |
| 2025-09-09 | 105.94 | 108.32 | -0.40 | near the usual relationship |
| 2025-09-08 | 105.76 | 107.91 | -0.35 | near the usual relationship |
| 2025-09-05 | 106.14 | 109.31 | -0.59 | XEL ahead |
| 2025-09-04 | 106.37 | 108.65 | -0.39 | near the usual relationship |
| 2025-09-03 | 106.93 | 108.93 | -0.34 | near the usual relationship |
| 2025-09-02 | 107.27 | 108.50 | -0.17 | near the usual relationship |
| 2025-08-29 | 107.80 | 108.87 | -0.14 | near the usual relationship |
| 2025-08-28 | 107.69 | 108.80 | -0.15 | near the usual relationship |
| 2025-08-27 | 108.84 | 109.60 | -0.08 | near the usual relationship |
| 2025-08-26 | 108.49 | 109.10 | -0.06 | near the usual relationship |
| 2025-08-25 | 108.34 | 109.84 | -0.26 | near the usual relationship |
| 2025-08-22 | 109.43 | 111.69 | -0.42 | near the usual relationship |
| 2025-08-21 | 109.25 | 110.03 | -0.12 | near the usual relationship |
| 2025-08-20 | 109.55 | 110.05 | -0.07 | near the usual relationship |
| 2025-08-19 | 108.93 | 110.12 | -0.22 | near the usual relationship |
| 2025-08-18 | 106.89 | 108.60 | -0.34 | near the usual relationship |
| 2025-08-15 | 107.76 | 108.18 | -0.09 | near the usual relationship |
| 2025-08-14 | 109.35 | 108.87 | +0.08 | near the usual relationship |
| 2025-08-13 | 110.63 | 109.67 | +0.16 | near the usual relationship |
| 2025-08-12 | 109.54 | 108.87 | +0.09 | near the usual relationship |
| 2025-08-11 | 110.50 | 109.30 | +0.18 | near the usual relationship |
| 2025-08-08 | 110.29 | 110.29 | -0.05 | near the usual relationship |
| 2025-08-07 | 110.82 | 110.14 | +0.06 | near the usual relationship |
| 2025-08-06 | 110.19 | 110.24 | -0.08 | near the usual relationship |
| 2025-08-05 | 109.13 | 110.89 | -0.39 | near the usual relationship |
| 2025-08-04 | 109.28 | 111.66 | -0.51 | XEL ahead |
| 2025-08-01 | 108.17 | 110.50 | -0.51 | XEL ahead |
| 2025-07-31 | 107.05 | 110.45 | -0.71 | XEL ahead |
| 2025-07-30 | 106.03 | 108.87 | -0.62 | XEL ahead |
| 2025-07-29 | 105.16 | 108.80 | -0.77 | XEL ahead |
| 2025-07-28 | 103.49 | 106.99 | -0.76 | XEL ahead |
| 2025-07-25 | 105.54 | 109.28 | -0.80 | XEL ahead |
| 2025-07-24 | 105.39 | 109.46 | -0.86 | XEL ahead |
| 2025-07-23 | 105.17 | 109.04 | -0.83 | XEL ahead |
| 2025-07-22 | 106.25 | 109.88 | -0.79 | XEL ahead |
| 2025-07-21 | 105.46 | 107.64 | -0.56 | XEL ahead |
| 2025-07-18 | 104.22 | 105.85 | -0.47 | near the usual relationship |
| 2025-07-17 | 103.37 | 104.75 | -0.44 | near the usual relationship |
| 2025-07-16 | 103.66 | 104.03 | -0.27 | near the usual relationship |
| 2025-07-15 | 103.05 | 102.77 | -0.17 | near the usual relationship |
| 2025-07-14 | 103.78 | 104.03 | -0.26 | near the usual relationship |
| 2025-07-11 | 103.37 | 103.20 | -0.20 | near the usual relationship |
| 2025-07-10 | 104.00 | 102.95 | -0.06 | near the usual relationship |
| 2025-07-09 | 103.12 | 102.03 | -0.06 | near the usual relationship |
| 2025-07-08 | 102.36 | 101.61 | -0.12 | near the usual relationship |
| 2025-07-07 | 103.22 | 102.09 | -0.07 | near the usual relationship |
| 2025-07-03 | 103.24 | 102.56 | -0.15 | near the usual relationship |
| 2025-07-02 | 103.02 | 101.61 | -0.03 | near the usual relationship |
| 2025-07-01 | 104.61 | 103.34 | -0.06 | near the usual relationship |
| 2025-06-30 | 103.85 | 102.42 | -0.04 | near the usual relationship |
| 2025-06-27 | 102.90 | 101.94 | -0.12 | near the usual relationship |
| 2025-06-26 | 102.31 | 101.90 | -0.21 | near the usual relationship |
| 2025-06-25 | 102.04 | 101.25 | -0.15 | near the usual relationship |
| 2025-06-24 | 102.92 | 102.62 | -0.24 | near the usual relationship |
| 2025-06-23 | 102.94 | 102.14 | -0.16 | near the usual relationship |
| 2025-06-20 | 101.56 | 100.23 | -0.08 | near the usual relationship |
| 2025-06-18 | 100.84 | 99.68 | -0.12 | near the usual relationship |
| 2025-06-17 | 101.02 | 98.74 | +0.07 | near the usual relationship |
| 2025-06-16 | 101.56 | 100.45 | -0.13 | near the usual relationship |
| 2025-06-13 | 102.84 | 101.70 | -0.13 | near the usual relationship |
| 2025-06-12 | 103.21 | 103.88 | -0.42 | near the usual relationship |
| 2025-06-11 | 102.39 | 102.65 | -0.36 | near the usual relationship |
| 2025-06-10 | 102.38 | 103.71 | -0.54 | XEL ahead |
| 2025-06-09 | 101.62 | 102.84 | -0.53 | XEL ahead |
| 2025-06-06 | 101.41 | 103.04 | -0.60 | XEL ahead |
| 2025-06-05 | 101.86 | 103.13 | -0.55 | XEL ahead |
| 2025-06-04 | 102.07 | 103.02 | -0.50 | XEL ahead |
| 2025-06-03 | 102.73 | 104.27 | -0.60 | XEL ahead |
| 2025-06-02 | 103.17 | 104.87 | -0.63 | XEL ahead |
| 2025-05-30 | 103.60 | 105.43 | -0.65 | XEL ahead |
| 2025-05-29 | 101.60 | 104.48 | -0.83 | XEL ahead |
| 2025-05-28 | 100.72 | 103.67 | -0.85 | XEL ahead |
| 2025-05-27 | 102.42 | 104.99 | -0.79 | XEL ahead |
| 2025-05-23 | 102.52 | 104.87 | -0.76 | XEL ahead |
| 2025-05-22 | 101.71 | 104.09 | -0.77 | XEL ahead |
| 2025-05-21 | 102.47 | 105.16 | -0.82 | XEL ahead |
| 2025-05-20 | 103.24 | 108.76 | -1.25 | XEL ahead |
| 2025-05-19 | 102.96 | 108.60 | -1.28 | XEL ahead |
| 2025-05-16 | 102.31 | 108.86 | -1.43 | XEL ahead |
| 2025-05-15 | 102.03 | 107.17 | -1.24 | XEL ahead |
| 2025-05-14 | 98.97 | 103.47 | -1.17 | XEL ahead |
| 2025-05-13 | 99.51 | 102.74 | -0.98 | XEL ahead |
| 2025-05-12 | 101.95 | 101.94 | -0.47 | near the usual relationship |
| 2025-05-09 | 105.90 | 106.20 | -0.52 | XEL ahead |
| 2025-05-08 | 105.61 | 105.53 | -0.47 | near the usual relationship |
| 2025-05-07 | 107.89 | 107.32 | -0.40 | near the usual relationship |
| 2025-05-06 | 108.19 | 106.87 | -0.29 | near the usual relationship |
| 2025-05-05 | 106.27 | 106.62 | -0.55 | XEL ahead |
| 2025-05-02 | 107.00 | 106.44 | -0.42 | near the usual relationship |
| 2025-05-01 | 106.78 | 105.88 | -0.37 | near the usual relationship |
| 2025-04-30 | 107.38 | 106.33 | -0.35 | near the usual relationship |
| 2025-04-29 | 107.10 | 106.29 | -0.39 | near the usual relationship |
| 2025-04-28 | 106.20 | 104.65 | -0.28 | near the usual relationship |
| 2025-04-25 | 105.47 | 103.78 | -0.25 | near the usual relationship |
| 2025-04-24 | 106.22 | 105.72 | -0.44 | near the usual relationship |
| 2025-04-23 | 106.86 | 107.61 | -0.63 | XEL ahead |
| 2025-04-22 | 107.83 | 107.37 | -0.45 | near the usual relationship |
| 2025-04-21 | 105.76 | 103.73 | -0.21 | near the usual relationship |
| 2025-04-17 | 107.19 | 105.47 | -0.27 | near the usual relationship |
| 2025-04-16 | 105.91 | 103.93 | -0.22 | near the usual relationship |
| 2025-04-15 | 106.04 | 105.69 | -0.47 | near the usual relationship |
| 2025-04-14 | 106.13 | 106.38 | -0.57 | XEL ahead |
| 2025-04-11 | 104.67 | 104.61 | -0.52 | XEL ahead |
| 2025-04-10 | 102.82 | 102.89 | -0.55 | XEL ahead |
| 2025-04-09 | 102.36 | 103.14 | -0.66 | XEL ahead |
| 2025-04-08 | 102.04 | 100.83 | -0.35 | near the usual relationship |
| 2025-04-07 | 102.84 | 100.86 | -0.23 | near the usual relationship |
| 2025-04-04 | 104.66 | 102.11 | -0.15 | near the usual relationship |
| 2025-04-03 | 109.17 | 108.50 | -0.45 | near the usual relationship |
| 2025-04-02 | 105.95 | 106.63 | -0.65 | XEL ahead |
| 2025-04-01 | 106.55 | 106.36 | -0.53 | XEL ahead |
| 2025-03-31 | 107.34 | 106.47 | -0.43 | near the usual relationship |
| 2025-03-28 | 105.09 | 104.86 | -0.53 | XEL ahead |
| 2025-03-27 | 103.54 | 104.26 | -0.68 | XEL ahead |
| 2025-03-26 | 103.06 | 103.65 | -0.66 | XEL ahead |
| 2025-03-25 | 102.16 | 102.17 | -0.57 | XEL ahead |
| 2025-03-24 | 103.98 | 103.56 | -0.51 | XEL ahead |
| 2025-03-21 | 104.81 | 103.94 | -0.45 | near the usual relationship |
| 2025-03-20 | 105.75 | 105.41 | -0.53 | XEL ahead |
| 2025-03-19 | 105.00 | 105.64 | -0.69 | XEL ahead |
| 2025-03-18 | 106.27 | 105.70 | -0.51 | XEL ahead |
| 2025-03-17 | 106.32 | 105.22 | -0.43 | near the usual relationship |
| 2025-03-14 | 105.71 | 104.90 | -0.48 | near the usual relationship |
| 2025-03-13 | 104.03 | 103.27 | -0.49 | near the usual relationship |
| 2025-03-12 | 102.65 | 103.55 | -0.75 | XEL ahead |
| 2025-03-11 | 103.58 | 103.37 | -0.58 | XEL ahead |
| 2025-03-10 | 104.29 | 104.30 | -0.62 | XEL ahead |
| 2025-03-07 | 102.74 | 102.27 | -0.56 | XEL ahead |
| 2025-03-06 | 101.06 | 101.76 | -0.74 | XEL ahead |
| 2025-03-05 | 101.41 | 103.37 | -0.94 | XEL ahead |
| 2025-03-04 | 102.45 | 105.32 | -1.09 | XEL ahead |
| 2025-03-03 | 104.44 | 108.14 | -1.19 | XEL ahead |
| 2025-02-28 | 103.40 | 108.44 | -1.39 | XEL ahead |
| 2025-02-27 | 101.99 | 106.42 | -1.30 | XEL ahead |
| 2025-02-26 | 102.36 | 105.23 | -1.05 | XEL ahead |
| 2025-02-25 | 103.22 | 105.96 | -1.02 | XEL ahead |
| 2025-02-24 | 102.02 | 106.45 | -1.26 | XEL ahead |
| 2025-02-21 | 101.69 | 105.19 | -1.12 | XEL ahead |
| 2025-02-20 | 99.59 | 104.26 | -1.29 | XEL ahead |
| 2025-02-19 | 98.38 | 103.88 | -1.42 | XEL ahead |
| 2025-02-18 | 97.59 | 103.08 | -1.41 | XEL ahead |
| 2025-02-14 | 98.21 | 103.19 | -1.33 | XEL ahead |
| 2025-02-13 | 100.28 | 102.87 | -0.95 | XEL ahead |
| 2025-02-12 | 102.41 | 101.37 | -0.41 | near the usual relationship |
| 2025-02-11 | 102.69 | 101.05 | -0.31 | near the usual relationship |
| 2025-02-10 | 101.73 | 100.59 | -0.38 | near the usual relationship |
| 2025-02-07 | 101.20 | 100.17 | -0.39 | near the usual relationship |
| 2025-02-06 | 100.78 | 100.95 | -0.56 | XEL ahead |
| 2025-02-05 | 100.20 | 102.20 | -0.83 | XEL ahead |
| 2025-02-04 | 98.94 | 101.25 | -0.87 | XEL ahead |
| 2025-02-03 | 99.62 | 101.90 | -0.86 | XEL ahead |
| 2025-01-31 | 98.56 | 101.07 | -0.89 | XEL ahead |
| 2025-01-30 | 98.79 | 100.56 | -0.78 | XEL ahead |
| 2025-01-29 | 97.35 | 99.37 | -0.81 | XEL ahead |
| 2025-01-28 | 97.96 | 99.91 | -0.80 | XEL ahead |
| 2025-01-27 | 99.11 | 102.26 | -0.97 | XEL ahead |
| 2025-01-24 | 96.68 | 100.18 | -1.02 | XEL ahead |
| 2025-01-23 | 96.22 | 99.35 | -0.97 | XEL ahead |
| 2025-01-22 | 95.77 | 100.74 | -1.24 | XEL ahead |
| 2025-01-21 | 97.48 | 101.79 | -1.13 | XEL ahead |
| 2025-01-17 | 96.15 | 100.35 | -1.12 | XEL ahead |
| 2025-01-16 | 95.98 | 99.56 | -1.03 | XEL ahead |
| 2025-01-15 | 93.68 | 97.67 | -1.10 | XEL ahead |
| 2025-01-14 | 94.03 | 96.38 | -0.85 | XEL ahead |
| 2025-01-13 | 93.41 | 95.68 | -0.83 | XEL ahead |
| 2025-01-10 | 93.17 | 95.31 | -0.81 | XEL ahead |
| 2025-01-08 | 95.25 | 99.85 | -1.15 | XEL ahead |
| 2025-01-07 | 94.00 | 98.72 | -1.17 | XEL ahead |
| 2025-01-06 | 93.61 | 97.97 | -1.11 | XEL ahead |
| 2025-01-03 | 94.85 | 100.30 | -1.25 | XEL ahead |
| 2025-01-02 | 94.89 | 100.56 | -1.27 | XEL ahead |
| 2024-12-31 | 94.82 | 101.55 | -1.41 | XEL ahead |
| 2024-12-30 | 94.79 | 101.65 | -1.43 | XEL ahead |
| 2024-12-27 | 95.34 | 102.48 | -1.46 | XEL ahead |
| 2024-12-26 | 95.32 | 102.54 | -1.47 | XEL ahead |
| 2024-12-24 | 95.90 | 102.59 | -1.38 | XEL ahead |
| 2024-12-23 | 95.54 | 101.85 | -1.33 | XEL ahead |
| 2024-12-20 | 95.29 | 101.37 | -1.30 | XEL ahead |
| 2024-12-19 | 94.24 | 100.24 | -1.29 | XEL ahead |
| 2024-12-18 | 93.07 | 99.86 | -1.41 | XEL ahead |
| 2024-12-17 | 94.95 | 102.39 | -1.48 | XEL ahead |
| 2024-12-16 | 94.55 | 101.76 | -1.45 | XEL ahead |
| 2024-12-13 | 95.77 | 102.45 | -1.36 | XEL ahead |
| 2024-12-12 | 96.07 | 103.01 | -1.39 | XEL ahead |
| 2024-12-11 | 96.44 | 102.81 | -1.30 | XEL ahead |
| 2024-12-10 | 97.78 | 104.00 | -1.26 | XEL ahead |
| 2024-12-09 | 98.44 | 103.94 | -1.16 | XEL ahead |
| 2024-12-06 | 98.65 | 104.89 | -1.24 | XEL ahead |
| 2024-12-05 | 100.33 | 106.57 | -1.22 | XEL ahead |
| 2024-12-04 | 99.69 | 106.36 | -1.27 | XEL ahead |
| 2024-12-03 | 100.01 | 106.78 | -1.27 | XEL ahead |
| 2024-12-02 | 101.36 | 107.08 | -1.12 | XEL ahead |
| 2024-11-29 | 103.01 | 109.13 | -1.15 | XEL ahead |
| 2024-11-27 | 103.34 | 109.67 | -1.16 | XEL ahead |
| 2024-11-26 | 103.00 | 108.09 | -1.00 | XEL ahead |
| 2024-11-25 | 101.21 | 107.69 | -1.17 | XEL ahead |
| 2024-11-22 | 100.94 | 107.31 | -1.15 | XEL ahead |
| 2024-11-21 | 101.08 | 107.35 | -1.13 | XEL ahead |
| 2024-11-20 | 100.10 | 105.35 | -1.00 | XEL ahead |
| 2024-11-19 | 99.96 | 104.63 | -0.92 | XEL ahead |
| 2024-11-18 | 99.92 | 105.19 | -0.98 | XEL ahead |
| 2024-11-15 | 98.72 | 104.47 | -1.03 | XEL ahead |
| 2024-11-14 | 97.40 | 103.64 | -1.09 | XEL ahead |
| 2024-11-13 | 97.96 | 103.25 | -0.97 | XEL ahead |
| 2024-11-12 | 98.46 | 103.19 | -0.89 | XEL ahead |
| 2024-11-11 | 98.97 | 103.25 | -0.82 | XEL ahead |
| 2024-11-08 | 99.65 | 101.32 | -0.50 | XEL ahead |
| 2024-11-07 | 97.76 | 99.56 | -0.51 | XEL ahead |
| 2024-11-06 | 100.00 | 100.00 | -0.29 | near the usual relationship |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Sep 24, 2025 (DUK +0.4%, XEL +6.7%).
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)
2 simulated trades to Nov 3, 2026: -3.13% per trade on average after costs, 0 won.
| Legs | Entered | Exited | Why | Days | Before costs | Costs + borrow | After costs |
|---|---|---|---|---|---|---|---|
| Long XEL · Short DUK | Jul 28, 2023 | Aug 11, 2023 | divergence stop | 14 | -$329.85 | -$45.00 | -$378.83 (-3.79%) |
| Long DUK · Short XEL | Feb 15, 2019 | Mar 8, 2019 | divergence stop | 21 | -$207.02 | -$47.44 | -$246.24 (-2.46%) |
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
The companies
DUK and XEL 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
- $98.6B
- Price history
- 2,534 daily closes, Oct 12, 2016 to Nov 10, 2026
XEL Xcel Energy Inc.
- Listing
- Nasdaq · SEC CIK 72903
- Industry
- Power Generation · SIC 4931 Electric & Other Services Combined
- Market value
- $50.6B
- Price history
- 2,534 daily closes, Oct 12, 2016 to Nov 10, 2026
Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.
Related
All pairs →Other rivals of DUK 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.
