ES vs GOOG: Correlation
How closely do Eversource Energy (ES) and Alphabet Inc. (Class C) (GOOG) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ES and GOOG?
On 3 years of weekly data the ES/GOOG correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. The 5-year figure is -0.08, and annualized covariance runs at -167.0 %².
Among the 28 assets we track against ES, GOOG ranks #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GOOG outperformed by 48.2 percentage points (+14.5% for ES against +62.7% for GOOG). Across three years, the rolling one-year figure varied moderately, from -0.40 to 0.07.
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 GOOG: side by side
| ES (Eversource Energy) | GOOG (Alphabet Inc. (Class C)) | |
|---|---|---|
| 1-year return | +14.5% | +62.7% |
| 5-year return | -5.0% | +134.2% |
| Volatility (ann.) | 22.9% | 31.1% |
| Beta vs S&P 500 | 0.20 | 1.20 |
| Max drawdown (3Y) | -18.8% | -29.4% |
| Market cap | $26.7B | $4,130.2B |
| P/E (trailing) | 18.6 | 17.0 |
| Dividend yield | 4.30% | 0.25% |
| Sector / category | Utilities | Communication Services |
Year-by-year returns
| Year | ES | GOOG |
|---|---|---|
| 2022 | -5.1% | -38.7% |
| 2023 | -23.4% | +58.8% |
| 2024 | -2.5% | +35.6% |
| 2025 | +22.9% | +65.4% |
| 2026 | +7.7% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ES and GOOG good diversifiers for each other?
Yes. With a correlation of -0.23, ES and GOOG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ES and GOOG?
As of 2026-08-27, the correlation of weekly returns between ES and GOOG is -0.23 over 3 years, -0.25 over 1 year and -0.08 over 5 years.
Is GOOG a good diversifier for ES?
Yes. With a correlation of -0.23, ES and GOOG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/es-vs-goog.json
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Related comparisons
Hubs: ES correlations · GOOG correlations
