EMA vs FTS: Correlation
How closely do Emera Incorporated (EMA) and Fortis Inc. (FTS) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMA and FTS?
Across a 3-year window, the weekly returns of EMA and FTS correlate at 0.78, strong. The relationship has been stable: the 1-year correlation (0.85) sits close to the 3-year figure. Stretching to 5 years gives 0.82, with an annualized covariance of 199.0 %².
FTS is one of the assets that tracks EMA most closely: it ranks #1 out of the 11 assets we track against EMA. Neither side won the trailing year by much: +7.5% against +12.4%.
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.
EMA vs FTS: side by side
| EMA (Emera Incorporated) | FTS (Fortis Inc.) | |
|---|---|---|
| 1-year return | +7.5% | +12.4% |
| 5-year return | +34.4% | +43.4% |
| Volatility (ann.) | 17.4% | 14.6% |
| Beta vs S&P 500 | 0.10 | 0.04 |
| Max drawdown (3Y) | -19.6% | -11.6% |
| Market cap | $15.4B | $28.0B |
| P/E (trailing) | 22.2 | 22.5 |
| Dividend yield | 5.77% | 4.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMA | FTS |
|---|---|---|
| 2022 | -19.3% | -13.9% |
| 2023 | +3.5% | +7.0% |
| 2024 | +6.3% | +5.4% |
| 2025 | +36.6% | +28.5% |
| 2026 | +3.6% | +8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMA and FTS good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EMA and FTS?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.85 over the last year and 0.82 over 5 years.
Is FTS a good diversifier for EMA?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 mean?
On the −1 to +1 scale, 0.78 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/ema-vs-fts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ema-vs-fts/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EMA correlations · FTS correlations
