ATO vs ETR: Correlation
How closely do Atmos Energy (ATO) and Entergy (ETR) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATO and ETR?
Over the past 3 years, ATO and ETR moved with a correlation of 0.70, which is strong. Recent behaviour matches the longer record: 0.79 over 1 year against 0.70 over 3. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 217.9 %².
Within ATO's tracked universe of 32 assets, ETR comes in at #12 by 3-year correlation. The last year tells two different stories: ETR led by 19.0 percentage points, +2.9% for ATO against +21.9% for ETR. The link looks structural: the rolling one-year correlation barely moved, holding between 0.55 and 0.79.
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 ETR: side by side
| ATO (Atmos Energy) | ETR (Entergy) | |
|---|---|---|
| 1-year return | +2.9% | +21.9% |
| 5-year return | +94.1% | +132.0% |
| Volatility (ann.) | 15.9% | 19.7% |
| Beta vs S&P 500 | 0.15 | 0.22 |
| Max drawdown (3Y) | -12.7% | -10.6% |
| Market cap | $28.3B | $49.7B |
| P/E (trailing) | 19.9 | 27.2 |
| Dividend yield | 2.28% | 2.35% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ATO | ETR |
|---|---|---|
| 2022 | +9.6% | +3.6% |
| 2023 | +6.2% | -6.1% |
| 2024 | +23.4% | +56.0% |
| 2025 | +23.1% | +25.3% |
| 2026 | +1.5% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATO and ETR good diversifiers for each other?
Only partially. A correlation of 0.70 means ATO and ETR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ATO and ETR?
The ATO/ETR correlation stands at 0.70 on a 3-year window (1 year: 0.79, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is ETR a good diversifier for ATO?
Only partially. A correlation of 0.70 means ATO and ETR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ATO correlations · ETR correlations
