CNP vs XLU: Correlation
Measured on weekly returns over the past three years, CenterPoint Energy (CNP) and Utilities Select Sector SPDR Fund (XLU) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNP and XLU?
On 3 years of weekly data the CNP/XLU correlation comes out at 0.67, strong. Lately the two have moved closer together, with the 1-year correlation at 0.87 versus 0.67 over 3 years. The 5-year figure is 0.78, and annualized covariance runs at 180.7 %².
Few assets follow CNP as closely as XLU, which ranks #3 of 28 tracked partners. Their 12-month results are close: +6.5% for CNP against +4.1% for XLU. This link changes with the market regime, having swung between 0.34 and 0.93 on a rolling one-year basis.
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 XLU: side by side
| CNP (CenterPoint Energy) | XLU (Utilities Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +6.5% | +4.1% |
| 5-year return | +75.6% | +46.3% |
| Volatility (ann.) | 17.2% | 15.8% |
| Beta vs S&P 500 | 0.12 | 0.26 |
| Max drawdown (3Y) | -18.1% | -13.1% |
| Market cap | $25.9B | – |
| P/E (trailing) | 23.5 | – |
| Dividend yield | 2.27% | 2.70% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $23.1B |
| Sector / category | Utilities | Sector ETF |
XLU is an Utilities fund from State Street Investment Management: $23.1B under management, 31 holdings, a 0.08% expense ratio, a 2.70% trailing dividend yield.
Year-by-year returns
| Year | CNP | XLU |
|---|---|---|
| 2022 | +10.0% | +1.4% |
| 2023 | -2.1% | -7.2% |
| 2024 | +14.3% | +23.3% |
| 2025 | +23.7% | +16.0% |
| 2026 | +4.2% | +2.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that XLU holds CNP at a 1.91% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are CNP and XLU good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CNP and XLU?
As of 2026-08-27, the correlation of weekly returns between CNP and XLU is 0.67 over 3 years, 0.87 over 1 year and 0.78 over 5 years.
Is XLU a good diversifier for CNP?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 mean?
A reading of 0.67 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-xlu.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnp-vs-xlu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNP correlations · XLU correlations
