ES vs TBBB: Correlation
How closely do Eversource Energy (ES) and BBB Foods Inc. Class A (TBBB) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ES and TBBB?
Over the past 3 years, ES and TBBB moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -204.6 %².
Within ES's tracked universe of 28 assets, TBBB comes in at #22 by 3-year correlation. The last year tells two different stories: TBBB led by 71.4 percentage points, +14.5% for ES against +85.9% for TBBB. Note the risk asymmetry: TBBB runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TBBB: side by side
| ES (Eversource Energy) | TBBB (BBB Foods Inc. Class A) | |
|---|---|---|
| 1-year return | +14.5% | +85.9% |
| 5-year return | -5.0% | n/a |
| Volatility (ann.) | 22.9% | 41.8% |
| Beta vs S&P 500 | 0.20 | 0.96 |
| Max drawdown (3Y) | -18.8% | -29.6% |
| Market cap | $26.7B | $5.9B |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 4.30% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | ES | TBBB |
|---|---|---|
| 2022 | -5.1% | – |
| 2023 | -23.4% | – |
| 2024 | -2.5% | – |
| 2025 | +22.9% | +18.1% |
| 2026 | +7.7% | +45.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ES and TBBB good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ES and TBBB?
The ES/TBBB correlation stands at -0.22 on a 3-year window (1 year: -0.31, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TBBB a good diversifier for ES?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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
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Related comparisons
Hubs: ES correlations · TBBB correlations
