BCE vs NRG: Correlation
How closely do BCE, Inc. (BCE) and NRG Energy (NRG) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCE and NRG?
On 3 years of weekly data the BCE/NRG correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.09) sits close to the 3-year figure. The 5-year figure is 0.01, and annualized covariance runs at -174.4 %².
Among the 27 assets we track against BCE, NRG ranks #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BCE outperformed by 20.4 percentage points (-1.4% for BCE against -21.8% for NRG). Note the risk asymmetry: NRG runs 2.1 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.
BCE vs NRG: side by side
| BCE (BCE, Inc.) | NRG (NRG Energy) | |
|---|---|---|
| 1-year return | -1.4% | -21.8% |
| 5-year return | -36.8% | +191.5% |
| Volatility (ann.) | 21.5% | 44.4% |
| Beta vs S&P 500 | -0.06 | 1.30 |
| Max drawdown (3Y) | -43.5% | -38.9% |
| Market cap | $21.8B | $24.1B |
| P/E (trailing) | 4.8 | 30.2 |
| Dividend yield | 7.45% | 1.61% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | BCE | NRG |
|---|---|---|
| 2022 | -10.6% | -23.5% |
| 2023 | -4.2% | +69.4% |
| 2024 | -35.5% | +78.6% |
| 2025 | +10.2% | +78.9% |
| 2026 | +0.8% | -27.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCE and NRG good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between BCE and NRG?
The BCE/NRG correlation stands at -0.18 on a 3-year window (1 year: -0.09, 5 years: 0.01), computed from weekly returns as of 2026-08-27.
Is NRG a good diversifier for BCE?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 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.
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Related comparisons
Hubs: BCE correlations · NRG correlations
