This study evaluated the concurrent application and the results of the root electrical capacitance (CR) and minirhizotron (MR) methods in the same plant populations. The container experiment involved three winter wheat cultivars, grown as sole crops or intercropped with winter pea under well-watered or drought-stressed conditions. The wheat root activity (characterized by CR) and the MR-based root length (RL) and root surface area (RSA) were monitored during the vegetation period, the flag leaf chlorophyll content was measured at flowering, and the wheat shoot dry mass (SDM) and grain yield (GY) were determined at maturity. CR, RL and RSA exhibited similar seasonal patterns with peaks around the flowering. The presence of pea reduced the maximum CR, RL and RSA. Drought significantly decreased CR, but increased the MR-based root size. Both intercropping and drought reduced wheat chlorophyll content, SDM and GY. The relative decrease caused by pea or drought in the maximum CR was proportional to the rate of change in SDM or GY. Significant linear correlations (R2: 0.77–0.97) were found between CR and RSA, with significantly smaller specific root capacitance (per unit RSA) for the drought-stress treatments. CR measurements tend to predict root function and the accompanying effect on above-ground production and grain yield. The parallel application of the two in situ methods improves the evaluation of root dynamics and plant responses.