AVGO vs ED: Correlation
How closely do Broadcom (AVGO) and Consolidated Edison (ED) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVGO and ED?
On 3 years of weekly data the AVGO/ED correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. The 5-year figure is -0.12, and annualized covariance runs at -269.9 %².
Out of 33 assets tracked against AVGO, ED lands near the bottom at #30. The trailing year gives AVGO the advantage: +24.7% versus +10.2%, a 14.5-point spread. The rolling one-year correlation moved between -0.37 and 0.09 over the past three years, a moderate range. Risk is not evenly split, since AVGO carries 3.1 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.
AVGO vs ED: side by side
| AVGO (Broadcom) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | +24.7% | +10.2% |
| 5-year return | +718.0% | +67.5% |
| Volatility (ann.) | 51.3% | 16.5% |
| Beta vs S&P 500 | 2.45 | -0.21 |
| Max drawdown (3Y) | -41.1% | -17.4% |
| Market cap | $1,767.6B | $39.5B |
| P/E (trailing) | 59.2 | 17.5 |
| Dividend yield | 0.71% | 3.22% |
| Sector / category | Information Technology | Utilities |
Year-by-year returns
| Year | AVGO | ED |
|---|---|---|
| 2022 | -13.3% | +15.7% |
| 2023 | +104.2% | -1.1% |
| 2024 | +110.5% | +1.5% |
| 2025 | +50.6% | +15.1% |
| 2026 | +7.7% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVGO and ED good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AVGO and ED?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.34 over the last year and -0.12 over 5 years.
Is ED a good diversifier for AVGO?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 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/avgo-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avgo-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVGO correlations · ED correlations
