CMS vs EVRG: Correlation
Measured on weekly returns over the past three years, CMS Energy (CMS) and Evergy (EVRG) carry a correlation of 0.77, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and EVRG?
On 3 years of weekly data the CMS/EVRG correlation comes out at 0.77, strong. The relationship has been stable: the 1-year correlation (0.87) sits close to the 3-year figure. The 5-year figure is 0.83, and annualized covariance runs at 223.3 %².
Among the 42 assets we track against CMS, EVRG ranks #11 by 3-year correlation. The last year tells two different stories: EVRG led by 19.3 percentage points, -2.4% for CMS against +16.9% for EVRG. On a rolling one-year basis the correlation drifted between 0.54 and 0.87, 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 EVRG: side by side
| CMS (CMS Energy) | EVRG (Evergy) | |
|---|---|---|
| 1-year return | -2.4% | +16.9% |
| 5-year return | +23.8% | +46.3% |
| Volatility (ann.) | 16.2% | 17.9% |
| Beta vs S&P 500 | -0.01 | 0.13 |
| Max drawdown (3Y) | -13.2% | -15.8% |
| Market cap | $21.4B | $18.8B |
| P/E (trailing) | 20.8 | 20.9 |
| Dividend yield | 3.21% | 3.35% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CMS | EVRG |
|---|---|---|
| 2022 | +0.2% | -4.9% |
| 2023 | -5.2% | -13.3% |
| 2024 | +18.6% | +23.4% |
| 2025 | +8.1% | +22.4% |
| 2026 | +0.0% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and EVRG good diversifiers for each other?
Only partially. A correlation of 0.77 means CMS and EVRG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CMS and EVRG?
As of 2026-08-27, the correlation of weekly returns between CMS and EVRG is 0.77 over 3 years, 0.87 over 1 year and 0.83 over 5 years.
Is EVRG a good diversifier for CMS?
Only partially. A correlation of 0.77 means CMS and EVRG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 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.
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Related comparisons
Hubs: CMS correlations · EVRG correlations
