CMS vs CNP: Correlation
How closely do CMS Energy (CMS) and CenterPoint Energy (CNP) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and CNP?
Across a 3-year window, the weekly returns of CMS and CNP correlate at 0.60, strong. The past 12 months show a tighter link (0.86) than the 3-year average (0.60). Stretching to 5 years gives 0.73, with an annualized covariance of 167.4 %².
Within CMS's tracked universe of 42 assets, CNP comes in at #25 by 3-year correlation. On 12-month performance CNP holds a 8.9-point edge, -2.4% against +6.5%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.16 to 0.87.
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.
CMS vs CNP: side by side
| CMS (CMS Energy) | CNP (CenterPoint Energy) | |
|---|---|---|
| 1-year return | -2.4% | +6.5% |
| 5-year return | +23.8% | +75.6% |
| Volatility (ann.) | 16.2% | 17.2% |
| Beta vs S&P 500 | -0.01 | 0.12 |
| Max drawdown (3Y) | -13.2% | -18.1% |
| Market cap | $21.4B | $25.9B |
| P/E (trailing) | 20.8 | 23.5 |
| Dividend yield | 3.21% | 2.27% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CMS | CNP |
|---|---|---|
| 2022 | +0.2% | +10.0% |
| 2023 | -5.2% | -2.1% |
| 2024 | +18.6% | +14.3% |
| 2025 | +8.1% | +23.7% |
| 2026 | +0.0% | +4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and CNP good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CMS and CNP?
The CMS/CNP correlation stands at 0.60 on a 3-year window (1 year: 0.86, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is CNP a good diversifier for CMS?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/cms-vs-cnp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cms-vs-cnp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CMS correlations · CNP correlations
