AWK vs ED: Correlation
American Water Works (AWK) and Consolidated Edison (ED) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWK and ED?
On 3 years of weekly data the AWK/ED correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.67 over 3. The 5-year figure is 0.67, and annualized covariance runs at 227.3 %².
By 3-year correlation, ED places #7 of the 49 assets tracked against AWK. On 12-month performance ED holds a 13.2-point edge, -3.0% against +10.2%. The link looks structural: the rolling one-year correlation barely moved, holding between 0.55 and 0.74.
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.
AWK vs ED: side by side
| AWK (American Water Works) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | -3.0% | +10.2% |
| 5-year return | -16.6% | +67.5% |
| Volatility (ann.) | 20.7% | 16.5% |
| Beta vs S&P 500 | -0.11 | -0.21 |
| Max drawdown (3Y) | -18.8% | -17.4% |
| Market cap | $27.2B | $39.5B |
| P/E (trailing) | 23.7 | 17.5 |
| Dividend yield | 2.46% | 3.22% |
| Sector / category | Utilities | Utilities |
Year-by-year returns
| Year | AWK | ED |
|---|---|---|
| 2022 | -17.9% | +15.7% |
| 2023 | -11.7% | -1.1% |
| 2024 | -3.5% | +1.5% |
| 2025 | +7.4% | +15.1% |
| 2026 | +6.9% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWK and ED good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AWK and ED?
As of 2026-08-27, the correlation of weekly returns between AWK and ED is 0.67 over 3 years, 0.70 over 1 year and 0.67 over 5 years.
Is ED a good diversifier for AWK?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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/awk-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/awk-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AWK correlations · ED correlations
