ADSK vs ED: Correlation
How closely do Autodesk (ADSK) and Consolidated Edison (ED) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADSK and ED?
Over the past 3 years, ADSK and ED moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -115.5 %².
Out of 44 assets tracked against ADSK, ED lands near the bottom at #40. Their recent paths diverged sharply: over the last 12 months ED outperformed by 15.6 percentage points (-5.4% for ADSK against +10.2% for ED). The rolling one-year correlation moved between -0.36 and 0.10 over the past three years, a moderate range. Note the risk asymmetry: ADSK runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ADSK vs ED: side by side
| ADSK (Autodesk) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | -5.4% | +10.2% |
| 5-year return | -13.7% | +67.5% |
| Volatility (ann.) | 30.9% | 16.5% |
| Beta vs S&P 500 | 1.04 | -0.21 |
| Max drawdown (3Y) | -42.6% | -17.4% |
| Market cap | $57.1B | $39.5B |
| P/E (trailing) | 37.2 | 17.5 |
| Dividend yield | 0.00% | 3.22% |
| Sector / category | Information Technology | Utilities |
Year-by-year returns
| Year | ADSK | ED |
|---|---|---|
| 2022 | -33.5% | +15.7% |
| 2023 | +30.3% | -1.1% |
| 2024 | +21.4% | +1.5% |
| 2025 | +0.1% | +15.1% |
| 2026 | -8.6% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADSK and ED good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between ADSK and ED?
As of 2026-08-27, the correlation of weekly returns between ADSK and ED is -0.23 over 3 years, -0.16 over 1 year and -0.02 over 5 years.
Is ED a good diversifier for ADSK?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ADSK correlations · ED correlations
