CNP vs TOP: Correlation
Measured on weekly returns over the past three years, CenterPoint Energy (CNP) and TOP Financial Group Limited - Class A (TOP) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNP and TOP?
On 3 years of weekly data the CNP/TOP correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.35) runs below the 3-year figure (-0.19). The 5-year figure is -0.06, and annualized covariance runs at -764.4 %².
By 3-year correlation, TOP places #23 of the 28 assets tracked against CNP. Their recent paths diverged sharply: over the last 12 months TOP outperformed by 1211.4 percentage points (+6.5% for CNP against +1217.9% for TOP). Note the risk asymmetry: TOP runs 13.4 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 TOP: side by side
| CNP (CenterPoint Energy) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | +6.5% | +1217.9% |
| 5-year return | +75.6% | -9.2% |
| Volatility (ann.) | 17.2% | 230.2% |
| Beta vs S&P 500 | 0.12 | 1.60 |
| Max drawdown (3Y) | -18.1% | -89.6% |
| Market cap | $25.9B | $1.9B |
| P/E (trailing) | 23.5 | – |
| Dividend yield | 2.27% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | CNP | TOP |
|---|---|---|
| 2022 | +10.0% | – |
| 2023 | -2.1% | -22.5% |
| 2024 | +14.3% | -59.5% |
| 2025 | +23.7% | -34.3% |
| 2026 | +4.2% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNP and TOP good diversifiers for each other?
Yes. With a correlation of -0.19, CNP and TOP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNP and TOP?
As of 2026-08-27, the correlation of weekly returns between CNP and TOP is -0.19 over 3 years, -0.35 over 1 year and -0.06 over 5 years.
Is TOP a good diversifier for CNP?
Yes. With a correlation of -0.19, CNP and TOP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnp-vs-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnp-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNP correlations · TOP correlations
