CNP vs NI: Correlation
Measured on weekly returns over the past three years, CenterPoint Energy (CNP) and NiSource (NI) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNP and NI?
Over the past 3 years, CNP and NI moved with a correlation of 0.68, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.84 versus 0.68 over 3 years. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 208.2 %².
Few assets follow CNP as closely as NI, which ranks #1 of 28 tracked partners. On 12-month performance CNP holds a 7.4-point edge, +6.5% against -0.9%. On a rolling one-year basis the correlation drifted between 0.38 and 0.87, a moderate band.
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 NI: side by side
| CNP (CenterPoint Energy) | NI (NiSource) | |
|---|---|---|
| 1-year return | +6.5% | -0.9% |
| 5-year return | +75.6% | +94.6% |
| Volatility (ann.) | 17.2% | 17.8% |
| Beta vs S&P 500 | 0.12 | 0.26 |
| Max drawdown (3Y) | -18.1% | -16.7% |
| Market cap | $25.9B | $19.6B |
| P/E (trailing) | 23.5 | 21.9 |
| Dividend yield | 2.27% | 1.41% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CNP | NI |
|---|---|---|
| 2022 | +10.0% | +2.7% |
| 2023 | -2.1% | +0.5% |
| 2024 | +14.3% | +43.5% |
| 2025 | +23.7% | +16.8% |
| 2026 | +4.2% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNP and NI good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CNP and NI?
As of 2026-08-27, the correlation of weekly returns between CNP and NI is 0.68 over 3 years, 0.84 over 1 year and 0.75 over 5 years.
Is NI a good diversifier for CNP?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 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-ni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnp-vs-ni/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNP correlations · NI correlations
