ETR vs TOP: Correlation
Entergy (ETR) and TOP Financial Group Limited - Class A (TOP) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETR and TOP?
Across a 3-year window, the weekly returns of ETR and TOP correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.36 versus -0.24 over 3 years. Stretching to 5 years gives -0.10, with an annualized covariance of -1077.0 %².
TOP is close to the least connected end of ETR's tracked universe, ranking #38 of 38. Correlation aside, the last 12 months split them widely, with TOP ahead by 1196.0 points (+21.9% versus +1217.9%). Risk is not evenly split, since TOP carries 11.7 times the volatility of the other side.
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 TOP: side by side
| ETR (Entergy) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | +21.9% | +1217.9% |
| 5-year return | +132.0% | -9.2% |
| Volatility (ann.) | 19.7% | 230.2% |
| Beta vs S&P 500 | 0.22 | 1.60 |
| Max drawdown (3Y) | -10.6% | -89.6% |
| Market cap | $49.7B | $1.9B |
| P/E (trailing) | 27.2 | – |
| Dividend yield | 2.35% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | ETR | TOP |
|---|---|---|
| 2022 | +3.6% | – |
| 2023 | -6.1% | -22.5% |
| 2024 | +56.0% | -59.5% |
| 2025 | +25.3% | -34.3% |
| 2026 | +17.3% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETR and TOP good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ETR and TOP?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.36 over the last year and -0.10 over 5 years.
Is TOP a good diversifier for ETR?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/etr-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETR correlations · TOP correlations
