EIX vs NI: Correlation
How closely do Edison International (EIX) and NiSource (NI) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EIX and NI?
Over the past 3 years, EIX and NI moved with a correlation of 0.49, which is moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 228.3 %².
Within EIX's tracked universe of 30 assets, NI comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EIX ahead by 41.3 points (+40.4% versus -0.9%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.18 to 0.87.
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.
EIX vs NI: side by side
| EIX (Edison International) | NI (NiSource) | |
|---|---|---|
| 1-year return | +40.4% | -0.9% |
| 5-year return | +62.2% | +94.6% |
| Volatility (ann.) | 26.0% | 17.8% |
| Beta vs S&P 500 | 0.24 | 0.26 |
| Max drawdown (3Y) | -43.9% | -16.7% |
| Market cap | $28.4B | $19.6B |
| P/E (trailing) | 7.7 | 21.9 |
| Dividend yield | 4.64% | 1.41% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | EIX | NI |
|---|---|---|
| 2022 | -2.6% | +2.7% |
| 2023 | +17.4% | +0.5% |
| 2024 | +15.2% | +43.5% |
| 2025 | -20.4% | +16.8% |
| 2026 | +27.6% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EIX and NI good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EIX and NI?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.57 over the last year and 0.60 over 5 years.
Is NI a good diversifier for EIX?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 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/eix-vs-ni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eix-vs-ni/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EIX correlations · NI correlations
