APO vs ED: Correlation
Apollo Global Management (APO) and Consolidated Edison (ED) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APO and ED?
On 3 years of weekly data the APO/ED correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.48) than the 3-year average (-0.27). The 5-year figure is -0.03, and annualized covariance runs at -162.9 %².
ED is close to the least connected end of APO's tracked universe, ranking #30 of 33. On 12-month performance ED holds a 10.3-point edge, -0.1% against +10.2%. The relationship is regime-dependent: the rolling one-year correlation swung between -0.51 and 0.09 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since APO carries 2.2 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.
APO vs ED: side by side
| APO (Apollo Global Management) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | -0.1% | +10.2% |
| 5-year return | +149.7% | +67.5% |
| Volatility (ann.) | 36.8% | 16.5% |
| Beta vs S&P 500 | 1.62 | -0.21 |
| Max drawdown (3Y) | -42.8% | -17.4% |
| Market cap | $78.8B | $39.5B |
| P/E (trailing) | 47.5 | 17.5 |
| Dividend yield | 1.60% | 3.22% |
| Sector / category | Financials | Utilities |
Year-by-year returns
| Year | APO | ED |
|---|---|---|
| 2022 | -9.6% | +15.7% |
| 2023 | +49.4% | -1.1% |
| 2024 | +79.9% | +1.5% |
| 2025 | -11.1% | +15.1% |
| 2026 | -6.7% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APO and ED good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between APO and ED?
As of 2026-08-27, the correlation of weekly returns between APO and ED is -0.27 over 3 years, -0.48 over 1 year and -0.03 over 5 years.
Is ED a good diversifier for APO?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 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/apo-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apo-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APO correlations · ED correlations
