CMS vs TEAM: Correlation
Measured on weekly returns over the past three years, CMS Energy (CMS) and Atlassian Corporation (TEAM) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and TEAM?
Across a 3-year window, the weekly returns of CMS and TEAM correlate at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.30). Stretching to 5 years gives -0.14, with an annualized covariance of -301.7 %².
Out of 42 assets tracked against CMS, TEAM lands near the bottom at #40. Over the last 12 months TEAM came out ahead by 10.4 percentage points (-2.4% against +8.0%). One caveat on sizing: TEAM is 3.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TEAM: side by side
| CMS (CMS Energy) | TEAM (Atlassian Corporation) | |
|---|---|---|
| 1-year return | -2.4% | +8.0% |
| 5-year return | +23.8% | -49.3% |
| Volatility (ann.) | 16.2% | 61.5% |
| Beta vs S&P 500 | -0.01 | 1.66 |
| Max drawdown (3Y) | -13.2% | -82.3% |
| Market cap | $21.4B | $47.0B |
| P/E (trailing) | 20.8 | – |
| Dividend yield | 3.21% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | CMS | TEAM |
|---|---|---|
| 2022 | +0.2% | -66.3% |
| 2023 | -5.2% | +84.8% |
| 2024 | +18.6% | +2.3% |
| 2025 | +8.1% | -33.4% |
| 2026 | +0.0% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and TEAM good diversifiers for each other?
Yes. With a correlation of -0.30, CMS and TEAM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CMS and TEAM?
The CMS/TEAM correlation stands at -0.30 on a 3-year window (1 year: -0.42, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is TEAM a good diversifier for CMS?
Yes. With a correlation of -0.30, CMS and TEAM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
A reading of -0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CMS correlations · TEAM correlations
