CMS vs EXC: Correlation
Measured on weekly returns over the past three years, CMS Energy (CMS) and Exelon (EXC) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and EXC?
Across a 3-year window, the weekly returns of CMS and EXC correlate at 0.75, strong. The past 12 months show a tighter link (0.86) than the 3-year average (0.75). Stretching to 5 years gives 0.78, with an annualized covariance of 234.8 %².
Among the 42 assets we track against CMS, EXC ranks #13 by 3-year correlation. Neither side won the trailing year by much: -2.4% against +1.7%. Stability stands out here, with the rolling one-year correlation confined to 0.62 through 0.86.
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 EXC: side by side
| CMS (CMS Energy) | EXC (Exelon) | |
|---|---|---|
| 1-year return | -2.4% | +1.7% |
| 5-year return | +23.8% | +48.1% |
| Volatility (ann.) | 16.2% | 19.4% |
| Beta vs S&P 500 | -0.01 | -0.05 |
| Max drawdown (3Y) | -13.2% | -18.9% |
| Market cap | $21.4B | $45.3B |
| P/E (trailing) | 20.8 | 16.3 |
| Dividend yield | 3.21% | 3.69% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CMS | EXC |
|---|---|---|
| 2022 | +0.2% | +8.3% |
| 2023 | -5.2% | -14.0% |
| 2024 | +18.6% | +9.2% |
| 2025 | +8.1% | +20.0% |
| 2026 | +0.0% | +2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and EXC good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CMS and EXC?
The CMS/EXC correlation stands at 0.75 on a 3-year window (1 year: 0.86, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is EXC a good diversifier for CMS?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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-exc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cms-vs-exc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMS correlations · EXC correlations
