CNP vs WEC: Correlation
Measured on weekly returns over the past three years, CenterPoint Energy (CNP) and WEC Energy Group (WEC) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNP and WEC?
Over the past 3 years, CNP and WEC moved with a correlation of 0.63, which is strong. The past 12 months show a tighter link (0.90) than the 3-year average (0.63). Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 181.3 %².
By 3-year correlation, WEC places #9 of the 28 assets tracked against CNP. Neither side won the trailing year by much: +6.5% against +2.1%. The relationship is regime-dependent: the rolling one-year correlation swung between 0.19 and 0.91 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 WEC: side by side
| CNP (CenterPoint Energy) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | +6.5% | +2.1% |
| 5-year return | +75.6% | +32.7% |
| Volatility (ann.) | 17.2% | 16.9% |
| Beta vs S&P 500 | 0.12 | 0.02 |
| Max drawdown (3Y) | -18.1% | -11.6% |
| Market cap | $25.9B | $34.6B |
| P/E (trailing) | 23.5 | 20.6 |
| Dividend yield | 2.27% | 3.43% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | CNP | WEC |
|---|---|---|
| 2022 | +10.0% | -0.5% |
| 2023 | -2.1% | -7.0% |
| 2024 | +14.3% | +16.1% |
| 2025 | +23.7% | +16.0% |
| 2026 | +4.2% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNP and WEC good diversifiers for each other?
Only partially. A correlation of 0.63 means CNP and WEC 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 WEC?
The CNP/WEC correlation stands at 0.63 on a 3-year window (1 year: 0.90, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is WEC a good diversifier for CNP?
Only partially. A correlation of 0.63 means CNP and WEC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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-wec.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cnp-vs-wec/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNP correlations · WEC correlations
