NI vs SRE: Correlation
How closely do NiSource (NI) and Sempra (SRE) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NI and SRE?
Over the past 3 years, NI and SRE moved with a correlation of 0.66, which is strong. The past 12 months show a tighter link (0.84) than the 3-year average (0.66). Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 280.3 %².
Within NI's tracked universe of 38 assets, SRE comes in at #18 by 3-year correlation. On 12-month performance SRE holds a 6.9-point edge, -0.9% against +6.0%. On a rolling one-year basis the correlation drifted between 0.49 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.
NI vs SRE: side by side
| NI (NiSource) | SRE (Sempra) | |
|---|---|---|
| 1-year return | -0.9% | +6.0% |
| 5-year return | +94.6% | +50.4% |
| Volatility (ann.) | 17.8% | 23.9% |
| Beta vs S&P 500 | 0.26 | 0.38 |
| Max drawdown (3Y) | -16.7% | -31.6% |
| Market cap | $19.6B | $55.4B |
| P/E (trailing) | 21.9 | 24.7 |
| Dividend yield | 1.41% | 3.06% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | NI | SRE |
|---|---|---|
| 2022 | +2.7% | +20.3% |
| 2023 | +0.5% | -0.1% |
| 2024 | +43.5% | +21.1% |
| 2025 | +16.8% | +3.9% |
| 2026 | +0.0% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NI and SRE good diversifiers for each other?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NI and SRE?
The NI/SRE correlation stands at 0.66 on a 3-year window (1 year: 0.84, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is SRE a good diversifier for NI?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.66 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/ni-vs-sre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ni-vs-sre/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NI correlations · SRE correlations
