CNP vs FE: Correlation
Measured on weekly returns over the past three years, CenterPoint Energy (CNP) and FirstEnergy (FE) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNP and FE?
Over the past 3 years, CNP and FE moved with a correlation of 0.59, which is moderate. The link has tightened recently: the 1-year correlation (0.81) runs above the 3-year figure (0.59). Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 178.4 %².
Within CNP's tracked universe of 28 assets, FE comes in at #13 by 3-year correlation. Their 12-month results are close: +6.5% for CNP against +9.9% for FE. The relationship is regime-dependent: the rolling one-year correlation swung between 0.24 and 0.84 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 FE: side by side
| CNP (CenterPoint Energy) | FE (FirstEnergy) | |
|---|---|---|
| 1-year return | +6.5% | +9.9% |
| 5-year return | +75.6% | +46.7% |
| Volatility (ann.) | 17.2% | 17.6% |
| Beta vs S&P 500 | 0.12 | 0.04 |
| Max drawdown (3Y) | -18.1% | -14.7% |
| Market cap | $25.9B | $26.8B |
| P/E (trailing) | 23.5 | 25.0 |
| Dividend yield | 2.27% | 3.85% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CNP | FE |
|---|---|---|
| 2022 | +10.0% | +4.8% |
| 2023 | -2.1% | -8.9% |
| 2024 | +14.3% | +13.2% |
| 2025 | +23.7% | +17.3% |
| 2026 | +4.2% | +6.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNP and FE good diversifiers for each other?
Only partially. A correlation of 0.59 means CNP and FE 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 FE?
As of 2026-08-27, the correlation of weekly returns between CNP and FE is 0.59 over 3 years, 0.81 over 1 year and 0.69 over 5 years.
Is FE a good diversifier for CNP?
Only partially. A correlation of 0.59 means CNP and FE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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.
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Related comparisons
Hubs: CNP correlations · FE correlations
