ASAN vs ED: Correlation
How closely do Asana, Inc. (ASAN) and Consolidated Edison (ED) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASAN and ED?
Across a 3-year window, the weekly returns of ASAN and ED correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.35 over 1 year against -0.30 over 3. Stretching to 5 years gives -0.16, with an annualized covariance of -296.9 %².
Out of 19 assets tracked against ASAN, ED lands near the bottom at #18. The last year tells two different stories: ED led by 39.2 percentage points, -29.0% for ASAN against +10.2% for ED. One caveat on sizing: ASAN is 3.6 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.
ASAN vs ED: side by side
| ASAN (Asana, Inc.) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | -29.0% | +10.2% |
| 5-year return | -86.9% | +67.5% |
| Volatility (ann.) | 59.9% | 16.5% |
| Beta vs S&P 500 | 1.49 | -0.21 |
| Max drawdown (3Y) | -80.2% | -17.4% |
| Market cap | $2.3B | $39.5B |
| P/E (trailing) | – | 17.5 |
| Dividend yield | 0.00% | 3.22% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | ASAN | ED |
|---|---|---|
| 2022 | -81.5% | +15.7% |
| 2023 | +38.1% | -1.1% |
| 2024 | +6.6% | +1.5% |
| 2025 | -32.4% | +15.1% |
| 2026 | -25.8% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASAN and ED good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between ASAN and ED?
As of 2026-08-27, the correlation of weekly returns between ASAN and ED is -0.30 over 3 years, -0.35 over 1 year and -0.16 over 5 years.
Is ED a good diversifier for ASAN?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asan-vs-ed.json
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Related comparisons
Hubs: ASAN correlations · ED correlations
