AMZN vs CMS: Correlation
Amazon (AMZN) and CMS Energy (CMS) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMZN and CMS?
On 3 years of weekly data the AMZN/CMS correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. The 5-year figure is -0.03, and annualized covariance runs at -115.5 %².
Within AMZN's tracked universe of 38 assets, CMS comes in at #30 by 3-year correlation. On 12-month performance AMZN holds a 14.2-point edge, +11.8% against -2.4%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.40 to 0.18. Note the risk asymmetry: AMZN runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AMZN vs CMS: side by side
| AMZN (Amazon) | CMS (CMS Energy) | |
|---|---|---|
| 1-year return | +11.8% | -2.4% |
| 5-year return | +49.8% | +23.8% |
| Volatility (ann.) | 31.0% | 16.2% |
| Beta vs S&P 500 | 1.48 | -0.01 |
| Max drawdown (3Y) | -30.9% | -13.2% |
| Market cap | $2,764.1B | $21.4B |
| P/E (trailing) | 20.9 | 20.8 |
| Dividend yield | 0.00% | 3.21% |
| Sector / category | Consumer Discretionary | Utilities |
Year-by-year returns
| Year | AMZN | CMS |
|---|---|---|
| 2022 | -49.6% | +0.2% |
| 2023 | +80.9% | -5.2% |
| 2024 | +44.4% | +18.6% |
| 2025 | +5.2% | +8.1% |
| 2026 | +11.0% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMZN and CMS good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMZN and CMS?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.31 over the last year and -0.03 over 5 years.
Is CMS a good diversifier for AMZN?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amzn-vs-cms.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amzn-vs-cms/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMZN correlations · CMS correlations
