ES vs GOOGL: Correlation
How closely do Eversource Energy (ES) and Alphabet Inc. (Class A) (GOOGL) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ES and GOOGL?
Across a 3-year window, the weekly returns of ES and GOOGL correlate at -0.24, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. Stretching to 5 years gives -0.08, with an annualized covariance of -170.5 %².
Out of 28 assets tracked against ES, GOOGL lands near the bottom at #24. Their recent paths diverged sharply: over the last 12 months GOOGL outperformed by 50.2 percentage points (+14.5% for ES against +64.7% for GOOGL). The rolling one-year correlation moved between -0.40 and 0.07 over the past three years, a moderate range.
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 GOOGL: side by side
| ES (Eversource Energy) | GOOGL (Alphabet Inc. (Class A)) | |
|---|---|---|
| 1-year return | +14.5% | +64.7% |
| 5-year return | -5.0% | +137.7% |
| Volatility (ann.) | 22.9% | 31.4% |
| Beta vs S&P 500 | 0.20 | 1.22 |
| Max drawdown (3Y) | -18.8% | -29.8% |
| Market cap | $26.7B | $4,166.1B |
| P/E (trailing) | 18.6 | 17.2 |
| Dividend yield | 4.30% | 0.25% |
| Sector / category | Utilities | Communication Services |
Year-by-year returns
| Year | ES | GOOGL |
|---|---|---|
| 2022 | -5.1% | -39.1% |
| 2023 | -23.4% | +58.3% |
| 2024 | -2.5% | +36.0% |
| 2025 | +22.9% | +66.0% |
| 2026 | +7.7% | +9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ES and GOOGL good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between ES and GOOGL?
The ES/GOOGL correlation stands at -0.24 on a 3-year window (1 year: -0.26, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is GOOGL a good diversifier for ES?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/es-vs-googl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/es-vs-googl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ES correlations · GOOGL correlations
