CMS vs PPL: Correlation
Measured on weekly returns over the past three years, CMS Energy (CMS) and PPL Corporation (PPL) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and PPL?
Over the past 3 years, CMS and PPL moved with a correlation of 0.80, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.86) sits close to the 3-year figure. Over 5 years the correlation is 0.81, and the annualized covariance of weekly returns is 226.5 %².
Among the 42 assets we track against CMS, PPL ranks #8 by 3-year correlation. Neither side won the trailing year by much: -2.4% against -3.0%. On a rolling one-year basis the correlation drifted between 0.56 and 0.90, 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 PPL: side by side
| CMS (CMS Energy) | PPL (PPL Corporation) | |
|---|---|---|
| 1-year return | -2.4% | -3.0% |
| 5-year return | +23.8% | +41.1% |
| Volatility (ann.) | 16.2% | 17.4% |
| Beta vs S&P 500 | -0.01 | 0.13 |
| Max drawdown (3Y) | -13.2% | -13.3% |
| Market cap | $21.4B | $25.9B |
| P/E (trailing) | 20.8 | 20.7 |
| Dividend yield | 3.21% | 3.18% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CMS | PPL |
|---|---|---|
| 2022 | +0.2% | +0.4% |
| 2023 | -5.2% | -3.8% |
| 2024 | +18.6% | +24.0% |
| 2025 | +8.1% | +11.4% |
| 2026 | +0.0% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and PPL good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CMS and PPL?
As of 2026-08-27, the correlation of weekly returns between CMS and PPL is 0.80 over 3 years, 0.86 over 1 year and 0.81 over 5 years.
Is PPL a good diversifier for CMS?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 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-ppl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cms-vs-ppl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CMS correlations · PPL correlations
