BKH vs CPK: Correlation
Black Hills Corporation (BKH) and Chesapeake Utilities Corporation (CPK) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKH and CPK?
On 3 years of weekly data the BKH/CPK correlation comes out at 0.69, strong. Lately the two have drifted apart, with the 1-year correlation at 0.55 versus 0.69 over 3 years. The 5-year figure is 0.67, and annualized covariance runs at 304.6 %².
Among the 13 assets we track against BKH, CPK ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BKH outperformed by 16.4 percentage points (+26.5% for BKH against +10.1% for CPK).
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.
BKH vs CPK: side by side
| BKH (Black Hills Corporation) | CPK (Chesapeake Utilities Corporation) | |
|---|---|---|
| 1-year return | +26.5% | +10.1% |
| 5-year return | +27.4% | +13.6% |
| Volatility (ann.) | 21.5% | 20.5% |
| Beta vs S&P 500 | 0.32 | 0.12 |
| Max drawdown (3Y) | -14.1% | -22.0% |
| Market cap | $5.6B | $3.2B |
| P/E (trailing) | 18.5 | 21.4 |
| Dividend yield | 3.74% | 2.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKH | CPK |
|---|---|---|
| 2022 | +3.1% | -17.6% |
| 2023 | -19.9% | -8.8% |
| 2024 | +13.6% | +17.4% |
| 2025 | +23.9% | +5.1% |
| 2026 | +8.8% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKH and CPK good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BKH and CPK?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.55 over the last year and 0.67 over 5 years.
Is CPK a good diversifier for BKH?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 mean?
A reading of 0.69 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bkh-vs-cpk.json
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[](https://www.pairbook.io/pair/bkh-vs-cpk/)
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Related comparisons
Hubs: BKH correlations · CPK correlations
