ES vs EVRG: Correlation
How closely do Eversource Energy (ES) and Evergy (EVRG) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ES and EVRG?
On 3 years of weekly data the ES/EVRG correlation comes out at 0.61, strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.61 over 3. The 5-year figure is 0.71, and annualized covariance runs at 248.6 %².
By 3-year correlation, EVRG places #12 of the 28 assets tracked against ES. Their 12-month results are close: +14.5% for ES against +16.9% for EVRG. The relationship is regime-dependent: the rolling one-year correlation swung between 0.30 and 0.83 over the past three years, so this pair behaves very differently depending on the market environment.
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.
ES vs EVRG: side by side
| ES (Eversource Energy) | EVRG (Evergy) | |
|---|---|---|
| 1-year return | +14.5% | +16.9% |
| 5-year return | -5.0% | +46.3% |
| Volatility (ann.) | 22.9% | 17.9% |
| Beta vs S&P 500 | 0.20 | 0.13 |
| Max drawdown (3Y) | -18.8% | -15.8% |
| Market cap | $26.7B | $18.8B |
| P/E (trailing) | 18.6 | 20.9 |
| Dividend yield | 4.30% | 3.35% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ES | EVRG |
|---|---|---|
| 2022 | -5.1% | -4.9% |
| 2023 | -23.4% | -13.3% |
| 2024 | -2.5% | +23.4% |
| 2025 | +22.9% | +22.4% |
| 2026 | +7.7% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ES and EVRG good diversifiers for each other?
Only partially. A correlation of 0.61 means ES and EVRG 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 ES and EVRG?
As of 2026-08-27, the correlation of weekly returns between ES and EVRG is 0.61 over 3 years, 0.68 over 1 year and 0.71 over 5 years.
Is EVRG a good diversifier for ES?
Only partially. A correlation of 0.61 means ES and EVRG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 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.
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Related comparisons
Hubs: ES correlations · EVRG correlations
