APP vs ED: Correlation
Measured on weekly returns over the past three years, AppLovin (APP) and Consolidated Edison (ED) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APP and ED?
Across a 3-year window, the weekly returns of APP and ED correlate at -0.31, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.40 lands near the 3-year figure. Stretching to 5 years gives -0.17, with an annualized covariance of -433.4 %².
ED is close to the least connected end of APP's tracked universe, ranking #41 of 44. The last year tells two different stories: ED led by 42.7 percentage points, -32.5% for APP against +10.2% for ED. On a rolling one-year basis the correlation drifted between -0.47 and -0.02, a moderate band. One caveat on sizing: APP is 5.1 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.
APP vs ED: side by side
| APP (AppLovin) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | -32.5% | +10.2% |
| 5-year return | +326.5% | +67.5% |
| Volatility (ann.) | 84.3% | 16.5% |
| Beta vs S&P 500 | 3.10 | -0.21 |
| Max drawdown (3Y) | -59.3% | -17.4% |
| Market cap | $105.0B | $39.5B |
| P/E (trailing) | 23.7 | 17.5 |
| Dividend yield | 0.00% | 3.22% |
| Sector / category | Communication Services | Utilities |
Year-by-year returns
| Year | APP | ED |
|---|---|---|
| 2022 | -88.8% | +15.7% |
| 2023 | +278.4% | -1.1% |
| 2024 | +712.6% | +1.5% |
| 2025 | +108.1% | +15.1% |
| 2026 | -53.6% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APP and ED good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between APP and ED?
As of 2026-08-27, the correlation of weekly returns between APP and ED is -0.31 over 3 years, -0.40 over 1 year and -0.17 over 5 years.
Is ED a good diversifier for APP?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/app-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/app-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APP correlations · ED correlations
