ETR vs IDA: Correlation
How closely do Entergy (ETR) and IDACORP, Inc. (IDA) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETR and IDA?
Over the past 3 years, ETR and IDA moved with a correlation of 0.74, which is strong. Little has changed lately, as the 1-year reading of 0.81 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.
Among the 38 assets we track against ETR, IDA ranks #7 by 3-year correlation. The trailing year gives ETR the advantage: +21.9% versus +11.6%, a 10.3-point spread.
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.
ETR vs IDA: side by side
| ETR (Entergy) | IDA (IDACORP, Inc.) | |
|---|---|---|
| 1-year return | +21.9% | +11.6% |
| 5-year return | +132.0% | +51.7% |
| Volatility (ann.) | 19.7% | 17.8% |
| Beta vs S&P 500 | 0.22 | 0.10 |
| Max drawdown (3Y) | -10.6% | -13.6% |
| Market cap | $49.7B | $8.0B |
| P/E (trailing) | 27.2 | 22.9 |
| Dividend yield | 2.35% | 2.53% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | ETR | IDA |
|---|---|---|
| 2022 | +3.6% | -2.1% |
| 2023 | -6.1% | -6.0% |
| 2024 | +56.0% | +15.0% |
| 2025 | +25.3% | +19.2% |
| 2026 | +17.3% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETR and IDA good diversifiers for each other?
Only partially. A correlation of 0.74 means ETR and IDA 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 ETR and IDA?
As of 2026-08-27, the correlation of weekly returns between ETR and IDA is 0.74 over 3 years, 0.81 over 1 year and 0.75 over 5 years.
Is IDA a good diversifier for ETR?
Only partially. A correlation of 0.74 means ETR and IDA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/etr-vs-ida.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/etr-vs-ida/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETR correlations · IDA correlations
