CMS vs GOOG: Correlation
CMS Energy (CMS) and Alphabet Inc. (Class C) (GOOG) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and GOOG?
Across a 3-year window, the weekly returns of CMS and GOOG correlate at -0.31, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. Stretching to 5 years gives -0.08, with an annualized covariance of -154.9 %².
Among the 42 assets we track against CMS, GOOG sits near the bottom by co-movement, at rank #41. The last year tells two different stories: GOOG led by 65.1 percentage points, -2.4% for CMS against +62.7% for GOOG. Across three years, the rolling one-year figure varied moderately, from -0.40 to 0.08. Note the risk asymmetry: GOOG runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 GOOG: side by side
| CMS (CMS Energy) | GOOG (Alphabet Inc. (Class C)) | |
|---|---|---|
| 1-year return | -2.4% | +62.7% |
| 5-year return | +23.8% | +134.2% |
| Volatility (ann.) | 16.2% | 31.1% |
| Beta vs S&P 500 | -0.01 | 1.20 |
| Max drawdown (3Y) | -13.2% | -29.4% |
| Market cap | $21.4B | $4,130.2B |
| P/E (trailing) | 20.8 | 17.0 |
| Dividend yield | 3.21% | 0.25% |
| Sector / category | Utilities | Communication Services |
Year-by-year returns
| Year | CMS | GOOG |
|---|---|---|
| 2022 | +0.2% | -38.7% |
| 2023 | -5.2% | +58.8% |
| 2024 | +18.6% | +35.6% |
| 2025 | +8.1% | +65.4% |
| 2026 | +0.0% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and GOOG good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CMS and GOOG?
As of 2026-08-27, the correlation of weekly returns between CMS and GOOG is -0.31 over 3 years, -0.33 over 1 year and -0.08 over 5 years.
Is GOOG a good diversifier for CMS?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 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
$ curl https://www.pairbook.io/api/v1/pairs/cms-vs-goog.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cms-vs-goog/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CMS correlations · GOOG correlations
