CMS vs ETR: Correlation
CMS Energy (CMS) and Entergy (ETR) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and ETR?
Over the past 3 years, CMS and ETR moved with a correlation of 0.70, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.80 versus 0.70 over 3 years. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 223.2 %².
By 3-year correlation, ETR places #19 of the 42 assets tracked against CMS. Their recent paths diverged sharply: over the last 12 months ETR outperformed by 24.3 percentage points (-2.4% for CMS against +21.9% for ETR). On a rolling one-year basis the correlation drifted between 0.37 and 0.86, a moderate band.
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 ETR: side by side
| CMS (CMS Energy) | ETR (Entergy) | |
|---|---|---|
| 1-year return | -2.4% | +21.9% |
| 5-year return | +23.8% | +132.0% |
| Volatility (ann.) | 16.2% | 19.7% |
| Beta vs S&P 500 | -0.01 | 0.22 |
| Max drawdown (3Y) | -13.2% | -10.6% |
| Market cap | $21.4B | $49.7B |
| P/E (trailing) | 20.8 | 27.2 |
| Dividend yield | 3.21% | 2.35% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CMS | ETR |
|---|---|---|
| 2022 | +0.2% | +3.6% |
| 2023 | -5.2% | -6.1% |
| 2024 | +18.6% | +56.0% |
| 2025 | +8.1% | +25.3% |
| 2026 | +0.0% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and ETR good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CMS and ETR?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.80 over the last year and 0.76 over 5 years.
Is ETR a good diversifier for CMS?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 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
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Related comparisons
Hubs: CMS correlations · ETR correlations
