ETR vs NI: Correlation
How closely do Entergy (ETR) and NiSource (NI) trade together? Their weekly returns over three years give a correlation of 0.80, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETR and NI?
On 3 years of weekly data the ETR/NI correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. The 5-year figure is 0.79, and annualized covariance runs at 282.6 %².
In ETR's tracked universe of 38 assets, NI sits right near the top at #1. The last year tells two different stories: ETR led by 22.8 percentage points, +21.9% for ETR against -0.9% for NI. The link looks structural: the rolling one-year correlation barely moved, holding between 0.72 and 0.86.
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 NI: side by side
| ETR (Entergy) | NI (NiSource) | |
|---|---|---|
| 1-year return | +21.9% | -0.9% |
| 5-year return | +132.0% | +94.6% |
| Volatility (ann.) | 19.7% | 17.8% |
| Beta vs S&P 500 | 0.22 | 0.26 |
| Max drawdown (3Y) | -10.6% | -16.7% |
| Market cap | $49.7B | $19.6B |
| P/E (trailing) | 27.2 | 21.9 |
| Dividend yield | 2.35% | 1.41% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ETR | NI |
|---|---|---|
| 2022 | +3.6% | +2.7% |
| 2023 | -6.1% | +0.5% |
| 2024 | +56.0% | +43.5% |
| 2025 | +25.3% | +16.8% |
| 2026 | +17.3% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETR and NI good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between ETR and NI?
Using weekly returns as of 2026-08-27: 0.80 over 3 years, with 0.81 over the last year and 0.79 over 5 years.
Is NI a good diversifier for ETR?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 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/etr-vs-ni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/etr-vs-ni/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ETR correlations · NI correlations
