CEG vs NI: Correlation
How closely do Constellation Energy (CEG) and NiSource (NI) trade together? Their weekly returns over three years give a correlation of 0.17, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CEG and NI?
Over the past 3 years, CEG and NI moved with a correlation of 0.17, which is weak. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 162.1 %².
By 3-year correlation, NI places #21 of the 32 assets tracked against CEG. On 12-month performance NI holds a 9.2-point edge, -10.1% against -0.9%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.12 to 0.40. Risk is not evenly split, since CEG carries 2.9 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 NI: side by side
| CEG (Constellation Energy) | NI (NiSource) | |
|---|---|---|
| 1-year return | -10.1% | -0.9% |
| 5-year return | +598.5% | +94.6% |
| Volatility (ann.) | 52.1% | 17.8% |
| Beta vs S&P 500 | 1.42 | 0.26 |
| Max drawdown (3Y) | -50.7% | -16.7% |
| Market cap | $100.1B | $19.6B |
| P/E (trailing) | 27.3 | 21.9 |
| Dividend yield | 0.58% | 1.41% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CEG | NI |
|---|---|---|
| 2022 | – | +2.7% |
| 2023 | +37.2% | +0.5% |
| 2024 | +92.7% | +43.5% |
| 2025 | +58.8% | +16.8% |
| 2026 | -19.7% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CEG and NI good diversifiers for each other?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between CEG and NI?
The CEG/NI correlation stands at 0.17 on a 3-year window (1 year: 0.26, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is NI a good diversifier for CEG?
By historical standards, yes. A correlation of 0.17 means the two rarely move for the same reasons.
What does a correlation of 0.17 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ceg-vs-ni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ceg-vs-ni/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CEG correlations · NI correlations
