CEG vs ETR: Correlation
Measured on weekly returns over the past three years, Constellation Energy (CEG) and Entergy (ETR) carry a correlation of 0.20, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CEG and ETR?
Across a 3-year window, the weekly returns of CEG and ETR correlate at 0.20, weak. Lately the two have moved closer together, with the 1-year correlation at 0.37 versus 0.20 over 3 years. Stretching to 5 years gives 0.28, with an annualized covariance of 200.5 %².
Among the 32 assets we track against CEG, ETR ranks #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ETR ahead by 32.0 points (-10.1% versus +21.9%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.16 to 0.49. Risk is not evenly split, since CEG carries 2.6 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.
CEG vs ETR: side by side
| CEG (Constellation Energy) | ETR (Entergy) | |
|---|---|---|
| 1-year return | -10.1% | +21.9% |
| 5-year return | +598.5% | +132.0% |
| Volatility (ann.) | 52.1% | 19.7% |
| Beta vs S&P 500 | 1.42 | 0.22 |
| Max drawdown (3Y) | -50.7% | -10.6% |
| Market cap | $100.1B | $49.7B |
| P/E (trailing) | 27.3 | 27.2 |
| Dividend yield | 0.58% | 2.35% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CEG | ETR |
|---|---|---|
| 2022 | – | +3.6% |
| 2023 | +37.2% | -6.1% |
| 2024 | +92.7% | +56.0% |
| 2025 | +58.8% | +25.3% |
| 2026 | -19.7% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CEG and ETR good diversifiers for each other?
Reasonably. At 0.20, CEG and ETR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CEG and ETR?
As of 2026-08-27, the correlation of weekly returns between CEG and ETR is 0.20 over 3 years, 0.37 over 1 year and 0.28 over 5 years.
Is ETR a good diversifier for CEG?
Reasonably. At 0.20, CEG and ETR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.20 mean?
On the −1 to +1 scale, 0.20 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: CEG correlations · ETR correlations
