Almost...
With a few modifications it could be better than any commercial sports drink.
Coconut water is a much better source of Potassium but is missing two major ingredients that the body would need after a sweaty workout. Sodium, the main electrolyte lost through sweating and carbohydrates, which help replenish the body's spend energy. So by adding those two ingredients we have a great alternative. Please check the ingredients of your coconut water first as some have already added sugar. Choose one with no sugar and add your own so you get a complex sugar.
ENHANCED COCONUT WATER
2 cups (or 500ml) coconut water
½ tsp sea salt
4 tsp honey or maple syrup
If you don't like the taste of coconut water try:
REHYDRATION DRINK
1 cup (250 ml ) unsweetened apple juice
3 cups (750 ml) filtered water
1 tsp sea salt.