CNP vs FRNM: Correlation
Measured on weekly returns over the past three years, CenterPoint Energy (CNP) and Freenome, Inc. (FRNM) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNP and FRNM?
Across a 3-year window, the weekly returns of CNP and FRNM correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.24). Stretching to 5 years gives n/a, with an annualized covariance of -91.6 %².
FRNM is close to the least connected end of CNP's tracked universe, ranking #28 of 28. Correlation aside, the last 12 months split them widely, with FRNM ahead by 25.8 points (+6.5% versus +32.3%).
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 FRNM: side by side
| CNP (CenterPoint Energy) | FRNM (Freenome, Inc.) | |
|---|---|---|
| 1-year return | +6.5% | +32.3% |
| 5-year return | +75.6% | n/a |
| Volatility (ann.) | 17.2% | 21.1% |
| Beta vs S&P 500 | 0.12 | 0.03 |
| Max drawdown (3Y) | -18.1% | -29.6% |
| Market cap | $25.9B | $1.5B |
| P/E (trailing) | 23.5 | – |
| Dividend yield | 2.27% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | CNP | FRNM |
|---|---|---|
| 2022 | +10.0% | – |
| 2023 | -2.1% | – |
| 2024 | +14.3% | – |
| 2025 | +23.7% | +28.0% |
| 2026 | +4.2% | +7.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNP and FRNM good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between CNP and FRNM?
The CNP/FRNM correlation stands at -0.24 on a 3-year window (1 year: -0.37, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FRNM a good diversifier for CNP?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 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/cnp-vs-frnm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnp-vs-frnm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNP correlations · FRNM correlations
