CMS vs WEC: Correlation
How closely do CMS Energy (CMS) and WEC Energy Group (WEC) trade together? Their weekly returns over three years give a correlation of 0.83, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMS and WEC?
Over the past 3 years, CMS and WEC moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.88 lands near the 3-year figure. Over 5 years the correlation is 0.89, and the annualized covariance of weekly returns is 227.6 %².
In CMS's tracked universe of 42 assets, WEC sits right near the top at #3. Twelve-month performance is nearly a tie, at -2.4% for CMS and +2.1% for WEC. Stability stands out here, with the rolling one-year correlation confined to 0.71 through 0.92.
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 WEC: side by side
| CMS (CMS Energy) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | -2.4% | +2.1% |
| 5-year return | +23.8% | +32.7% |
| Volatility (ann.) | 16.2% | 16.9% |
| Beta vs S&P 500 | -0.01 | 0.02 |
| Max drawdown (3Y) | -13.2% | -11.6% |
| Market cap | $21.4B | $34.6B |
| P/E (trailing) | 20.8 | 20.6 |
| Dividend yield | 3.21% | 3.43% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CMS | WEC |
|---|---|---|
| 2022 | +0.2% | -0.5% |
| 2023 | -5.2% | -7.0% |
| 2024 | +18.6% | +16.1% |
| 2025 | +8.1% | +16.0% |
| 2026 | +0.0% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMS and WEC good diversifiers for each other?
No. With a correlation of 0.83, CMS and WEC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CMS and WEC?
As of 2026-08-27, the correlation of weekly returns between CMS and WEC is 0.83 over 3 years, 0.88 over 1 year and 0.89 over 5 years.
Is WEC a good diversifier for CMS?
No. With a correlation of 0.83, CMS and WEC move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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.
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Related comparisons
Hubs: CMS correlations · WEC correlations
