BLKB vs ETR: Correlation
How closely do Blackbaud, Inc. (BLKB) and Entergy (ETR) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLKB and ETR?
Across a 3-year window, the weekly returns of BLKB and ETR correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.19 over 3 years. Stretching to 5 years gives -0.03, with an annualized covariance of -148.1 %².
Out of 16 assets tracked against BLKB, ETR lands near the bottom at #12. The last year tells two different stories: ETR led by 48.9 percentage points, -27.0% for BLKB against +21.9% for ETR. Risk is not evenly split, since BLKB carries 2.0 times the volatility of the other side.
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.
BLKB vs ETR: side by side
| BLKB (Blackbaud, Inc.) | ETR (Entergy) | |
|---|---|---|
| 1-year return | -27.0% | +21.9% |
| 5-year return | -30.1% | +132.0% |
| Volatility (ann.) | 39.2% | 19.7% |
| Beta vs S&P 500 | 0.81 | 0.22 |
| Max drawdown (3Y) | -69.8% | -10.6% |
| Market cap | $2.2B | $49.7B |
| P/E (trailing) | 14.7 | 27.2 |
| Dividend yield | 0.00% | 2.35% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | BLKB | ETR |
|---|---|---|
| 2022 | -25.5% | +3.6% |
| 2023 | +47.3% | -6.1% |
| 2024 | -14.7% | +56.0% |
| 2025 | -14.3% | +25.3% |
| 2026 | -23.3% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLKB and ETR good diversifiers for each other?
Yes. With a correlation of -0.19, BLKB and ETR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BLKB and ETR?
As of 2026-08-27, the correlation of weekly returns between BLKB and ETR is -0.19 over 3 years, -0.40 over 1 year and -0.03 over 5 years.
Is ETR a good diversifier for BLKB?
Yes. With a correlation of -0.19, BLKB and ETR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: BLKB correlations · ETR correlations
