ADI vs ED: Correlation
Measured on weekly returns over the past three years, Analog Devices (ADI) and Consolidated Edison (ED) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADI and ED?
Over the past 3 years, ADI and ED moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.20). Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -109.1 %².
ED is close to the least connected end of ADI's tracked universe, ranking #48 of 51. Their recent paths diverged sharply: over the last 12 months ADI outperformed by 38.4 percentage points (+48.6% for ADI against +10.2% for ED). The relationship is regime-dependent: the rolling one-year correlation swung between -0.35 and 0.18 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since ADI carries 2.0 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.
ADI vs ED: side by side
| ADI (Analog Devices) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | +48.6% | +10.2% |
| 5-year return | +143.1% | +67.5% |
| Volatility (ann.) | 32.6% | 16.5% |
| Beta vs S&P 500 | 1.56 | -0.21 |
| Max drawdown (3Y) | -32.2% | -17.4% |
| Market cap | $181.5B | $39.5B |
| P/E (trailing) | 44.6 | 17.5 |
| Dividend yield | 1.15% | 3.22% |
| Sector / category | Information Technology | Utilities |
Year-by-year returns
| Year | ADI | ED |
|---|---|---|
| 2022 | -4.9% | +15.7% |
| 2023 | +23.4% | -1.1% |
| 2024 | +8.8% | +1.5% |
| 2025 | +29.8% | +15.1% |
| 2026 | +38.9% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADI and ED good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between ADI and ED?
As of 2026-08-27, the correlation of weekly returns between ADI and ED is -0.20 over 3 years, -0.33 over 1 year and -0.03 over 5 years.
Is ED a good diversifier for ADI?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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/adi-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adi-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ADI correlations · ED correlations
