CMS vs PEG: Correlation
Measured on weekly returns over the past three years, CMS Energy (CMS) and Public Service Enterprise Group (PEG) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and PEG?
Over the past 3 years, CMS and PEG moved with a correlation of 0.65, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.76 versus 0.65 over 3 years. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 199.3 %².
Within CMS's tracked universe of 42 assets, PEG comes in at #21 by 3-year correlation. Over the last 12 months CMS came out ahead by 6.2 percentage points (-2.4% against -8.6%). This link changes with the market regime, having swung between 0.28 and 0.83 on a rolling one-year basis.
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 PEG: side by side
| CMS (CMS Energy) | PEG (Public Service Enterprise Group) | |
|---|---|---|
| 1-year return | -2.4% | -8.6% |
| 5-year return | +23.8% | +34.9% |
| Volatility (ann.) | 16.2% | 18.9% |
| Beta vs S&P 500 | -0.01 | 0.25 |
| Max drawdown (3Y) | -13.2% | -18.8% |
| Market cap | $21.4B | $36.5B |
| P/E (trailing) | 20.8 | 18.4 |
| Dividend yield | 3.21% | 3.51% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CMS | PEG |
|---|---|---|
| 2022 | +0.2% | -5.1% |
| 2023 | -5.2% | +3.6% |
| 2024 | +18.6% | +42.6% |
| 2025 | +8.1% | -1.9% |
| 2026 | +0.0% | -7.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and PEG good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CMS and PEG?
The CMS/PEG correlation stands at 0.65 on a 3-year window (1 year: 0.76, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is PEG a good diversifier for CMS?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 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-peg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cms-vs-peg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CMS correlations · PEG correlations
