CEG vs TLN: Correlation
How closely do Constellation Energy (CEG) and Talen Energy Corporation (TLN) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CEG and TLN?
Over the past 3 years, CEG and TLN moved with a correlation of 0.58, which is moderate. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1438.6 %².
In CEG's tracked universe of 32 assets, TLN sits right near the top at #3. The trailing year gives CEG the advantage: -10.1% versus -20.2%, a 10.1-point spread.
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 TLN: side by side
| CEG (Constellation Energy) | TLN (Talen Energy Corporation) | |
|---|---|---|
| 1-year return | -10.1% | -20.2% |
| 5-year return | +598.5% | n/a |
| Volatility (ann.) | 52.1% | 47.4% |
| Beta vs S&P 500 | 1.42 | 1.39 |
| Max drawdown (3Y) | -50.7% | -33.8% |
| Market cap | $100.1B | $14.6B |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 0.58% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | CEG | TLN |
|---|---|---|
| 2023 | +37.2% | – |
| 2024 | +92.7% | +214.8% |
| 2025 | +58.8% | +86.1% |
| 2026 | -19.7% | -18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CEG and TLN good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CEG and TLN?
The CEG/TLN correlation stands at 0.58 on a 3-year window (1 year: 0.59, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TLN a good diversifier for CEG?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ceg-vs-tln.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ceg-vs-tln/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CEG correlations · TLN correlations
