CWT vs WTRG: Correlation
How closely do California Water Service Group (CWT) and Essential Utilities, Inc. (WTRG) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWT and WTRG?
Over the past 3 years, CWT and WTRG moved with a correlation of 0.75, which is strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 326.4 %².
Among the 15 assets we track against CWT, WTRG ranks #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +9.3% for CWT and +5.6% for WTRG.
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.
CWT vs WTRG: side by side
| CWT (California Water Service Group) | WTRG (Essential Utilities, Inc.) | |
|---|---|---|
| 1-year return | +9.3% | +5.6% |
| 5-year return | -12.2% | -5.2% |
| Volatility (ann.) | 22.3% | 19.6% |
| Beta vs S&P 500 | 0.10 | -0.04 |
| Max drawdown (3Y) | -24.1% | -17.9% |
| Market cap | $3.1B | $11.5B |
| P/E (trailing) | 22.6 | 20.9 |
| Dividend yield | 2.53% | 3.36% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWT | WTRG |
|---|---|---|
| 2022 | -14.1% | -8.9% |
| 2023 | -12.8% | -19.4% |
| 2024 | -10.6% | +0.5% |
| 2025 | -1.8% | +9.4% |
| 2026 | +18.2% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWT and WTRG good diversifiers for each other?
Only partially. A correlation of 0.75 means CWT and WTRG 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 CWT and WTRG?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.70 over the last year and 0.77 over 5 years.
Is WTRG a good diversifier for CWT?
Only partially. A correlation of 0.75 means CWT and WTRG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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/cwt-vs-wtrg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cwt-vs-wtrg/)
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Related comparisons
Hubs: CWT correlations · WTRG correlations
