ATO vs CNP: Correlation
Atmos Energy (ATO) and CenterPoint Energy (CNP) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATO and CNP?
On 3 years of weekly data the ATO/CNP correlation comes out at 0.64, strong. The past 12 months show a tighter link (0.80) than the 3-year average (0.64). The 5-year figure is 0.73, and annualized covariance runs at 174.1 %².
By 3-year correlation, CNP places #16 of the 32 assets tracked against ATO. Twelve-month performance is nearly a tie, at +2.9% for ATO and +6.5% for CNP. The rolling one-year correlation moved between 0.43 and 0.84 over the past three years, a moderate range.
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 CNP: side by side
| ATO (Atmos Energy) | CNP (CenterPoint Energy) | |
|---|---|---|
| 1-year return | +2.9% | +6.5% |
| 5-year return | +94.1% | +75.6% |
| Volatility (ann.) | 15.9% | 17.2% |
| Beta vs S&P 500 | 0.15 | 0.12 |
| Max drawdown (3Y) | -12.7% | -18.1% |
| Market cap | $28.3B | $25.9B |
| P/E (trailing) | 19.9 | 23.5 |
| Dividend yield | 2.28% | 2.27% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ATO | CNP |
|---|---|---|
| 2022 | +9.6% | +10.0% |
| 2023 | +6.2% | -2.1% |
| 2024 | +23.4% | +14.3% |
| 2025 | +23.1% | +23.7% |
| 2026 | +1.5% | +4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATO and CNP good diversifiers for each other?
To a limited degree. At 0.64 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 CNP?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.80 over the last year and 0.73 over 5 years.
Is CNP a good diversifier for ATO?
To a limited degree. At 0.64 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 0.64 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-cnp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ato-vs-cnp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ATO correlations · CNP correlations
