CNP vs RFAI: Correlation
How closely do CenterPoint Energy (CNP) and RF Acquisition Corp II (RFAI) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNP and RFAI?
Over the past 3 years, CNP and RFAI moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.27) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -957.7 %².
Among the 28 assets we track against CNP, RFAI ranks #21 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RFAI outperformed by 383.0 percentage points (+6.5% for CNP against +389.5% for RFAI). Note the risk asymmetry: RFAI runs 16.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 RFAI: side by side
| CNP (CenterPoint Energy) | RFAI (RF Acquisition Corp II) | |
|---|---|---|
| 1-year return | +6.5% | +389.5% |
| 5-year return | +75.6% | n/a |
| Volatility (ann.) | 17.2% | 288.3% |
| Beta vs S&P 500 | 0.12 | -1.62 |
| Max drawdown (3Y) | -18.1% | -16.5% |
| Market cap | $25.9B | $0.4B |
| P/E (trailing) | 23.5 | 399.9 |
| Dividend yield | 2.27% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | CNP | RFAI |
|---|---|---|
| 2022 | +10.0% | – |
| 2023 | -2.1% | – |
| 2024 | +14.3% | – |
| 2025 | +23.7% | +5.2% |
| 2026 | +4.2% | +383.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNP and RFAI good diversifiers for each other?
Yes. With a correlation of -0.19, CNP and RFAI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNP and RFAI?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.27 over the last year and n/a over 5 years.
Is RFAI a good diversifier for CNP?
Yes. With a correlation of -0.19, CNP and RFAI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnp-vs-rfai.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cnp-vs-rfai/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNP correlations · RFAI correlations
