ATO vs CMS: Correlation
Atmos Energy (ATO) and CMS Energy (CMS) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATO and CMS?
Across a 3-year window, the weekly returns of ATO and CMS correlate at 0.71, strong. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. Stretching to 5 years gives 0.78, with an annualized covariance of 183.4 %².
Within ATO's tracked universe of 32 assets, CMS comes in at #8 by 3-year correlation. Over the last 12 months ATO came out ahead by 5.3 percentage points (+2.9% against -2.4%). Across three years, the rolling one-year figure varied moderately, from 0.53 to 0.85.
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.
ATO vs CMS: side by side
| ATO (Atmos Energy) | CMS (CMS Energy) | |
|---|---|---|
| 1-year return | +2.9% | -2.4% |
| 5-year return | +94.1% | +23.8% |
| Volatility (ann.) | 15.9% | 16.2% |
| Beta vs S&P 500 | 0.15 | -0.01 |
| Max drawdown (3Y) | -12.7% | -13.2% |
| Market cap | $28.3B | $21.4B |
| P/E (trailing) | 19.9 | 20.8 |
| Dividend yield | 2.28% | 3.21% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ATO | CMS |
|---|---|---|
| 2022 | +9.6% | +0.2% |
| 2023 | +6.2% | -5.2% |
| 2024 | +23.4% | +18.6% |
| 2025 | +23.1% | +8.1% |
| 2026 | +1.5% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATO and CMS good diversifiers for each other?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ATO and CMS?
As of 2026-08-27, the correlation of weekly returns between ATO and CMS is 0.71 over 3 years, 0.80 over 1 year and 0.78 over 5 years.
Is CMS a good diversifier for ATO?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.71 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/ato-vs-cms.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ato-vs-cms/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ATO correlations · CMS correlations
