ES vs LNT: Correlation
How closely do Eversource Energy (ES) and Alliant Energy (LNT) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ES and LNT?
Over the past 3 years, ES and LNT moved with a correlation of 0.65, which is strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 260.8 %².
LNT is one of the assets that tracks ES most closely: it ranks #3 out of the 28 assets we track against ES. On 12-month performance ES holds a 7.6-point edge, +14.5% against +6.9%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.38 to 0.89.
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 LNT: side by side
| ES (Eversource Energy) | LNT (Alliant Energy) | |
|---|---|---|
| 1-year return | +14.5% | +6.9% |
| 5-year return | -5.0% | +31.9% |
| Volatility (ann.) | 22.9% | 17.5% |
| Beta vs S&P 500 | 0.20 | 0.09 |
| Max drawdown (3Y) | -18.8% | -12.4% |
| Market cap | $26.7B | $17.7B |
| P/E (trailing) | 18.6 | 21.8 |
| Dividend yield | 4.30% | 3.03% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ES | LNT |
|---|---|---|
| 2022 | -5.1% | -7.4% |
| 2023 | -23.4% | -3.8% |
| 2024 | -2.5% | +19.5% |
| 2025 | +22.9% | +13.5% |
| 2026 | +7.7% | +7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ES and LNT good diversifiers for each other?
Only partially. A correlation of 0.65 means ES and LNT 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 LNT?
As of 2026-08-27, the correlation of weekly returns between ES and LNT is 0.65 over 3 years, 0.65 over 1 year and 0.75 over 5 years.
Is LNT a good diversifier for ES?
Only partially. A correlation of 0.65 means ES and LNT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 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/es-vs-lnt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/es-vs-lnt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ES correlations · LNT correlations
