CNP vs EVRG: Correlation
How closely do CenterPoint Energy (CNP) and Evergy (EVRG) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNP and EVRG?
Across a 3-year window, the weekly returns of CNP and EVRG correlate at 0.60, strong. The past 12 months show a tighter link (0.79) than the 3-year average (0.60). Stretching to 5 years gives 0.69, with an annualized covariance of 183.5 %².
Among the 28 assets we track against CNP, EVRG ranks #11 by 3-year correlation. On 12-month performance EVRG holds a 10.4-point edge, +6.5% against +16.9%. The relationship is regime-dependent: the rolling one-year correlation swung between 0.29 and 0.82 over the past three years, so this pair behaves very differently depending on the market environment.
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.
CNP vs EVRG: side by side
| CNP (CenterPoint Energy) | EVRG (Evergy) | |
|---|---|---|
| 1-year return | +6.5% | +16.9% |
| 5-year return | +75.6% | +46.3% |
| Volatility (ann.) | 17.2% | 17.9% |
| Beta vs S&P 500 | 0.12 | 0.13 |
| Max drawdown (3Y) | -18.1% | -15.8% |
| Market cap | $25.9B | $18.8B |
| P/E (trailing) | 23.5 | 20.9 |
| Dividend yield | 2.27% | 3.35% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CNP | EVRG |
|---|---|---|
| 2022 | +10.0% | -4.9% |
| 2023 | -2.1% | -13.3% |
| 2024 | +14.3% | +23.4% |
| 2025 | +23.7% | +22.4% |
| 2026 | +4.2% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNP and EVRG good diversifiers for each other?
Only partially. A correlation of 0.60 means CNP and EVRG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CNP and EVRG?
As of 2026-08-27, the correlation of weekly returns between CNP and EVRG is 0.60 over 3 years, 0.79 over 1 year and 0.69 over 5 years.
Is EVRG a good diversifier for CNP?
Only partially. A correlation of 0.60 means CNP and EVRG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
A reading of 0.60 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: CNP correlations · EVRG correlations
