DTE vs ES: Correlation
DTE Energy (DTE) and Eversource Energy (ES) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTE and ES?
On 3 years of weekly data the DTE/ES correlation comes out at 0.75, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. The 5-year figure is 0.80, and annualized covariance runs at 292.1 %².
Within DTE's tracked universe of 44 assets, ES comes in at #11 by 3-year correlation. The trailing year gives ES the advantage: +1.7% versus +14.5%, a 12.8-point spread. Across three years, the rolling one-year figure varied moderately, from 0.47 to 0.89.
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.
DTE vs ES: side by side
| DTE (DTE Energy) | ES (Eversource Energy) | |
|---|---|---|
| 1-year return | +1.7% | +14.5% |
| 5-year return | +33.3% | -5.0% |
| Volatility (ann.) | 17.1% | 22.9% |
| Beta vs S&P 500 | 0.07 | 0.20 |
| Max drawdown (3Y) | -12.4% | -18.8% |
| Market cap | $28.3B | $26.7B |
| P/E (trailing) | 21.8 | 18.6 |
| Dividend yield | 3.39% | 4.30% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | DTE | ES |
|---|---|---|
| 2022 | +1.2% | -5.1% |
| 2023 | -2.8% | -23.4% |
| 2024 | +13.5% | -2.5% |
| 2025 | +10.4% | +22.9% |
| 2026 | +7.3% | +7.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTE and ES good diversifiers for each other?
To a limited degree. At 0.75 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 DTE and ES?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.71 over the last year and 0.80 over 5 years.
Is ES a good diversifier for DTE?
To a limited degree. At 0.75 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 0.75 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/dte-vs-es.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dte-vs-es/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DTE correlations · ES correlations
