NEE vs ZTR: Correlation
Measured on weekly returns over the past three years, NextEra Energy (NEE) and Virtus Total Return Fund Inc. (ZTR) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEE and ZTR?
Across a 3-year window, the weekly returns of NEE and ZTR correlate at 0.56, moderate. Recent behaviour matches the longer record: 0.62 over 1 year against 0.56 over 3. Stretching to 5 years gives 0.52, with an annualized covariance of 208.9 %².
Among the 29 assets we track against NEE, ZTR ranks #12 by 3-year correlation. Neither side won the trailing year by much: +16.2% against +18.0%. Risk is not evenly split, since NEE carries 1.9 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.
NEE vs ZTR: side by side
| NEE (NextEra Energy) | ZTR (Virtus Total Return Fund Inc.) | |
|---|---|---|
| 1-year return | +16.2% | +18.0% |
| 5-year return | +12.9% | +27.0% |
| Volatility (ann.) | 26.5% | 14.0% |
| Beta vs S&P 500 | 0.28 | 0.40 |
| Max drawdown (3Y) | -28.8% | -18.3% |
| Market cap | $174.1B | $0.3B |
| P/E (trailing) | 18.9 | 5.7 |
| Dividend yield | 2.82% | 8.75% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | NEE | ZTR |
|---|---|---|
| 2022 | -8.5% | -21.3% |
| 2023 | -25.3% | -3.2% |
| 2024 | +21.5% | +18.3% |
| 2025 | +15.5% | +18.6% |
| 2026 | +5.4% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEE and ZTR good diversifiers for each other?
Only partially. A correlation of 0.56 means NEE and ZTR 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 NEE and ZTR?
The NEE/ZTR correlation stands at 0.56 on a 3-year window (1 year: 0.62, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is ZTR a good diversifier for NEE?
Only partially. A correlation of 0.56 means NEE and ZTR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 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/nee-vs-ztr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nee-vs-ztr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NEE correlations · ZTR correlations
