D vs NI: Correlation
Measured on weekly returns over the past three years, Dominion Energy (D) and NiSource (NI) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are D and NI?
On 3 years of weekly data the D/NI correlation comes out at 0.64, strong. Little has changed lately, as the 1-year reading of 0.71 lands near the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 234.6 %².
Within D's tracked universe of 31 assets, NI comes in at #13 by 3-year correlation. The last year tells two different stories: D led by 16.0 percentage points, +15.1% for D against -0.9% for NI. Across three years, the rolling one-year figure varied moderately, from 0.49 to 0.74.
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.
D vs NI: side by side
| D (Dominion Energy) | NI (NiSource) | |
|---|---|---|
| 1-year return | +15.1% | -0.9% |
| 5-year return | +6.1% | +94.6% |
| Volatility (ann.) | 20.5% | 17.8% |
| Beta vs S&P 500 | 0.18 | 0.26 |
| Max drawdown (3Y) | -19.1% | -16.7% |
| Market cap | $58.5B | $19.6B |
| P/E (trailing) | 23.2 | 21.9 |
| Dividend yield | 3.99% | 1.41% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | D | NI |
|---|---|---|
| 2022 | -19.1% | +2.7% |
| 2023 | -19.1% | +0.5% |
| 2024 | +20.4% | +43.5% |
| 2025 | +14.0% | +16.8% |
| 2026 | +15.9% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are D and NI good diversifiers for each other?
Only partially. A correlation of 0.64 means D and NI 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 D and NI?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.71 over the last year and 0.69 over 5 years.
Is NI a good diversifier for D?
Only partially. A correlation of 0.64 means D and NI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/d-vs-ni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/d-vs-ni/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: D correlations · NI correlations
