Abstract: Systems and methods are disclosed for asset health assessment and fleet management. An example method may include classifying a first power system asset into a first sub-system and a second sub-system. The example method may also include measuring, by a processor of a protection relay and from a first power system asset, electrical, thermal, and/or mechanical data associated with the first power system asset. The example method may also include identifying a first fault feature for the first sub-system, wherein the first fault feature is influenced by load oscillations in the first power system asset. The example method may also include comparing the first fault feature to a second fault feature of a third sub-system in a second power system asset, wherein the second fault feature is the same as the first fault feature, and wherein the second fault feature is not associated with load oscillations.