DTE vs NEE: Correlation
DTE Energy (DTE) and NextEra Energy (NEE) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTE and NEE?
On 3 years of weekly data the DTE/NEE correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. The 5-year figure is 0.59, and annualized covariance runs at 266.4 %².
By 3-year correlation, NEE places #25 of the 44 assets tracked against DTE. Over the last 12 months NEE came out ahead by 14.5 percentage points (+1.7% against +16.2%). The rolling one-year correlation moved between 0.34 and 0.75 over the past three years, a moderate range. Risk is not evenly split, since NEE carries 1.5 times the volatility of the other side.
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 NEE: side by side
| DTE (DTE Energy) | NEE (NextEra Energy) | |
|---|---|---|
| 1-year return | +1.7% | +16.2% |
| 5-year return | +33.3% | +12.9% |
| Volatility (ann.) | 17.1% | 26.5% |
| Beta vs S&P 500 | 0.07 | 0.28 |
| Max drawdown (3Y) | -12.4% | -28.8% |
| Market cap | $28.3B | $174.1B |
| P/E (trailing) | 21.8 | 18.9 |
| Dividend yield | 3.39% | 2.82% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | DTE | NEE |
|---|---|---|
| 2022 | +1.2% | -8.5% |
| 2023 | -2.8% | -25.3% |
| 2024 | +13.5% | +21.5% |
| 2025 | +10.4% | +15.5% |
| 2026 | +7.3% | +5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTE and NEE good diversifiers for each other?
Only partially. A correlation of 0.59 means DTE and NEE 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 DTE and NEE?
The DTE/NEE correlation stands at 0.59 on a 3-year window (1 year: 0.61, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is NEE a good diversifier for DTE?
Only partially. A correlation of 0.59 means DTE and NEE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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/dte-vs-nee.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dte-vs-nee/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DTE correlations · NEE correlations
