NI vs WELL: Correlation
How closely do NiSource (NI) and Welltower (WELL) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NI and WELL?
Over the past 3 years, NI and WELL moved with a correlation of 0.57, which is moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.57 over 3. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 214.3 %².
Within NI's tracked universe of 38 assets, WELL comes in at #22 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WELL outperformed by 45.8 percentage points (-0.9% for NI against +44.9% for WELL). On a rolling one-year basis the correlation drifted between 0.34 and 0.69, 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 WELL: side by side
| NI (NiSource) | WELL (Welltower) | |
|---|---|---|
| 1-year return | -0.9% | +44.9% |
| 5-year return | +94.6% | +214.9% |
| Volatility (ann.) | 17.8% | 21.2% |
| Beta vs S&P 500 | 0.26 | 0.30 |
| Max drawdown (3Y) | -16.7% | -13.0% |
| Market cap | $19.6B | $172.6B |
| P/E (trailing) | 21.9 | 108.9 |
| Dividend yield | 1.41% | 1.27% |
| Sector / category | Utilities | Real Estate |
Year-by-year returns
| Year | NI | WELL |
|---|---|---|
| 2022 | +2.7% | -21.2% |
| 2023 | +0.5% | +41.8% |
| 2024 | +43.5% | +43.1% |
| 2025 | +16.8% | +49.9% |
| 2026 | +0.0% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NI and WELL good diversifiers for each other?
To a limited degree. At 0.57 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 WELL?
The NI/WELL correlation stands at 0.57 on a 3-year window (1 year: 0.60, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is WELL a good diversifier for NI?
To a limited degree. At 0.57 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 0.57 mean?
A reading of 0.57 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/ni-vs-well.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ni-vs-well/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NI correlations · WELL correlations
