ABNB vs ED: Correlation
How closely do Airbnb (ABNB) and Consolidated Edison (ED) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABNB and ED?
Across a 3-year window, the weekly returns of ABNB and ED correlate at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.24). Stretching to 5 years gives -0.10, with an annualized covariance of -139.5 %².
Out of 32 assets tracked against ABNB, ED lands near the bottom at #29. Their recent paths diverged sharply: over the last 12 months ABNB outperformed by 31.8 percentage points (+42.0% for ABNB against +10.2% for ED). This link changes with the market regime, having swung between -0.43 and 0.14 on a rolling one-year basis. One caveat on sizing: ABNB is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ABNB vs ED: side by side
| ABNB (Airbnb) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | +42.0% | +10.2% |
| 5-year return | +18.2% | +67.5% |
| Volatility (ann.) | 35.2% | 16.5% |
| Beta vs S&P 500 | 1.28 | -0.21 |
| Max drawdown (3Y) | -37.2% | -17.4% |
| Market cap | $110.4B | $39.5B |
| P/E (trailing) | 42.9 | 17.5 |
| Dividend yield | 0.00% | 3.22% |
| Sector / category | Consumer Discretionary | Utilities |
Year-by-year returns
| Year | ABNB | ED |
|---|---|---|
| 2022 | -48.6% | +15.7% |
| 2023 | +59.2% | -1.1% |
| 2024 | -3.5% | +1.5% |
| 2025 | +3.3% | +15.1% |
| 2026 | +35.9% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABNB and ED good diversifiers for each other?
Yes. With a correlation of -0.24, ABNB and ED have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ABNB and ED?
The ABNB/ED correlation stands at -0.24 on a 3-year window (1 year: -0.36, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is ED a good diversifier for ABNB?
Yes. With a correlation of -0.24, ABNB and ED have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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/abnb-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/abnb-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ABNB correlations · ED correlations
