EVRG vs NI: Correlation
Measured on weekly returns over the past three years, Evergy (EVRG) and NiSource (NI) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVRG and NI?
Over the past 3 years, EVRG and NI moved with a correlation of 0.75, which is strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 238.4 %².
Within EVRG's tracked universe of 44 assets, NI comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EVRG ahead by 17.8 points (+16.9% versus -0.9%). On a rolling one-year basis the correlation drifted between 0.60 and 0.85, a moderate band.
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.
EVRG vs NI: side by side
| EVRG (Evergy) | NI (NiSource) | |
|---|---|---|
| 1-year return | +16.9% | -0.9% |
| 5-year return | +46.3% | +94.6% |
| Volatility (ann.) | 17.9% | 17.8% |
| Beta vs S&P 500 | 0.13 | 0.26 |
| Max drawdown (3Y) | -15.8% | -16.7% |
| Market cap | $18.8B | $19.6B |
| P/E (trailing) | 20.9 | 21.9 |
| Dividend yield | 3.35% | 1.41% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | EVRG | NI |
|---|---|---|
| 2022 | -4.9% | +2.7% |
| 2023 | -13.3% | +0.5% |
| 2024 | +23.4% | +43.5% |
| 2025 | +22.4% | +16.8% |
| 2026 | +15.2% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVRG and NI good diversifiers for each other?
Only partially. A correlation of 0.75 means EVRG and NI 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 EVRG and NI?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.75 over the last year and 0.77 over 5 years.
Is NI a good diversifier for EVRG?
Only partially. A correlation of 0.75 means EVRG and NI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
A reading of 0.75 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/evrg-vs-ni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evrg-vs-ni/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EVRG correlations · NI correlations
