ANET vs CEG: Correlation
Arista Networks (ANET) and Constellation Energy (CEG) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANET and CEG?
Over the past 3 years, ANET and CEG moved with a correlation of 0.45, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.45 over 3 years. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 1166.2 %².
Within ANET's tracked universe of 35 assets, CEG comes in at #24 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ANET outperformed by 61.0 percentage points (+50.9% for ANET against -10.1% for CEG). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.15 to 0.69.
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.
ANET vs CEG: side by side
| ANET (Arista Networks) | CEG (Constellation Energy) | |
|---|---|---|
| 1-year return | +50.9% | -10.1% |
| 5-year return | +764.7% | +598.5% |
| Volatility (ann.) | 49.3% | 52.1% |
| Beta vs S&P 500 | 2.20 | 1.42 |
| Max drawdown (3Y) | -50.4% | -50.7% |
| Market cap | $253.6B | $100.1B |
| P/E (trailing) | 64.0 | 27.3 |
| Dividend yield | 0.00% | 0.58% |
| Sector / category | Information Technology | Utilities |
Year-by-year returns
| Year | ANET | CEG |
|---|---|---|
| 2022 | -15.6% | – |
| 2023 | +94.1% | +37.2% |
| 2024 | +87.7% | +92.7% |
| 2025 | +18.5% | +58.8% |
| 2026 | +53.5% | -19.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANET and CEG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ANET and CEG?
The ANET/CEG correlation stands at 0.45 on a 3-year window (1 year: 0.28, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is CEG a good diversifier for ANET?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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/anet-vs-ceg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/anet-vs-ceg/)
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Related comparisons
Hubs: ANET correlations · CEG correlations
