DLR vs NRG: Correlation
How closely do Digital Realty (DLR) and NRG Energy (NRG) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLR and NRG?
On 3 years of weekly data the DLR/NRG correlation comes out at 0.44, moderate. The past 12 months show a tighter link (0.58) than the 3-year average (0.44). The 5-year figure is 0.38, and annualized covariance runs at 530.1 %².
Within DLR's tracked universe of 30 assets, NRG comes in at #15 by 3-year correlation. The last year tells two different stories: DLR led by 38.2 percentage points, +16.4% for DLR against -21.8% for NRG. On a rolling one-year basis the correlation drifted between 0.12 and 0.56, a moderate band. Note the risk asymmetry: NRG runs 1.6 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.
DLR vs NRG: side by side
| DLR (Digital Realty) | NRG (NRG Energy) | |
|---|---|---|
| 1-year return | +16.4% | -21.8% |
| 5-year return | +40.3% | +191.5% |
| Volatility (ann.) | 27.1% | 44.4% |
| Beta vs S&P 500 | 0.73 | 1.30 |
| Max drawdown (3Y) | -29.4% | -38.9% |
| Market cap | $72.5B | $24.1B |
| P/E (trailing) | 94.2 | 30.2 |
| Dividend yield | 2.52% | 1.61% |
| Sector / category | Real Estate | Utilities |
Year-by-year returns
| Year | DLR | NRG |
|---|---|---|
| 2022 | -41.0% | -23.5% |
| 2023 | +39.9% | +69.4% |
| 2024 | +35.9% | +78.6% |
| 2025 | -10.1% | +78.9% |
| 2026 | +25.8% | -27.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLR and NRG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DLR and NRG?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.58 over the last year and 0.38 over 5 years.
Is NRG a good diversifier for DLR?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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/dlr-vs-nrg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dlr-vs-nrg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DLR correlations · NRG correlations
