ETR vs NRG: Correlation
How closely do Entergy (ETR) and NRG Energy (NRG) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETR and NRG?
Across a 3-year window, the weekly returns of ETR and NRG correlate at 0.37, moderate. The link has tightened recently: the 1-year correlation (0.60) runs above the 3-year figure (0.37). Stretching to 5 years gives 0.37, with an annualized covariance of 328.1 %².
Within ETR's tracked universe of 38 assets, NRG comes in at #24 by 3-year correlation. The last year tells two different stories: ETR led by 43.7 percentage points, +21.9% for ETR against -21.8% for NRG. This link changes with the market regime, having swung between -0.17 and 0.59 on a rolling one-year basis. Note the risk asymmetry: NRG runs 2.3 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.
ETR vs NRG: side by side
| ETR (Entergy) | NRG (NRG Energy) | |
|---|---|---|
| 1-year return | +21.9% | -21.8% |
| 5-year return | +132.0% | +191.5% |
| Volatility (ann.) | 19.7% | 44.4% |
| Beta vs S&P 500 | 0.22 | 1.30 |
| Max drawdown (3Y) | -10.6% | -38.9% |
| Market cap | $49.7B | $24.1B |
| P/E (trailing) | 27.2 | 30.2 |
| Dividend yield | 2.35% | 1.61% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | ETR | NRG |
|---|---|---|
| 2022 | +3.6% | -23.5% |
| 2023 | -6.1% | +69.4% |
| 2024 | +56.0% | +78.6% |
| 2025 | +25.3% | +78.9% |
| 2026 | +17.3% | -27.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETR and NRG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ETR and NRG?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.60 over the last year and 0.37 over 5 years.
Is NRG a good diversifier for ETR?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 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-nrg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/etr-vs-nrg/)
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Related comparisons
Hubs: ETR correlations · NRG correlations
