A statistical study of relativistic electron (>2 MeV) fluence derived from geosynchronous satellites and Pc5 ultralow frequency (ULF) wave power computed from a ground magnetic observatory data located in Canada's auroral zone has been carried out. The ground observations were made near the foot points of field lines passing through the GOESs from 1987 to 2009 (cycles 22 and 23). We determine statistical relationships between the two quantities for different phases of a solar cycle and validate these relationships in two different cycles. There is a positive linear relationship between log fluence and log Pc5 power for all solar phases; however, the power law indices vary for different phases of the cycle. High index values existed during the descending phase. The Pearson's cross correlation between electron fluence and Pc5 power indicates fluence enhancement 2–3 days after strong Pc5 wave activity for all solar phases. The lag between the two quantities is shorter for extremely high fluence (due to high Pc5 power), which tends to occur during the declining phases of both cycles. Most occurrences of extremely low fluence were observed during the extended solar minimum of cycle 23. The precursory attribute of Pc5 power with respect to fluence and the enhancement of fluence due to rising Pc5 power both support the notion of an electron acceleration mechanism by Pc5 ULF waves. This precursor behavior establishes the potential of using Pc5 power to predict relativistic electron fluence.