ANET vs ED: Correlation
How closely do Arista Networks (ANET) and Consolidated Edison (ED) trade together? Their weekly returns over three years give a correlation of -0.14, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANET and ED?
On 3 years of weekly data the ANET/ED correlation comes out at -0.14, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.14). The 5-year figure is -0.02, and annualized covariance runs at -116.2 %².
Within ANET's tracked universe of 35 assets, ED comes in at #26 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ANET outperformed by 40.7 percentage points (+50.9% for ANET against +10.2% for ED). On a rolling one-year basis the correlation drifted between -0.33 and 0.07, a moderate band. Note the risk asymmetry: ANET runs 3.0 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.
ANET vs ED: side by side
| ANET (Arista Networks) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | +50.9% | +10.2% |
| 5-year return | +764.7% | +67.5% |
| Volatility (ann.) | 49.3% | 16.5% |
| Beta vs S&P 500 | 2.20 | -0.21 |
| Max drawdown (3Y) | -50.4% | -17.4% |
| Market cap | $253.6B | $39.5B |
| P/E (trailing) | 64.0 | 17.5 |
| Dividend yield | 0.00% | 3.22% |
| Sector / category | Information Technology | Utilities |
Year-by-year returns
| Year | ANET | ED |
|---|---|---|
| 2022 | -15.6% | +15.7% |
| 2023 | +94.1% | -1.1% |
| 2024 | +87.7% | +1.5% |
| 2025 | +18.5% | +15.1% |
| 2026 | +53.5% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANET and ED good diversifiers for each other?
Yes: at -0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ANET and ED?
The ANET/ED correlation stands at -0.14 on a 3-year window (1 year: -0.03, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is ED a good diversifier for ANET?
Yes: at -0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.14 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/anet-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/anet-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ANET correlations · ED correlations
