BKNG vs ED: Correlation
Measured on weekly returns over the past three years, Booking Holdings (BKNG) and Consolidated Edison (ED) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKNG and ED?
Over the past 3 years, BKNG and ED moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -113.2 %².
ED is close to the least connected end of BKNG's tracked universe, ranking #36 of 39. Their recent paths diverged sharply: over the last 12 months ED outperformed by 19.3 percentage points (-9.1% for BKNG against +10.2% for ED). This link changes with the market regime, having swung between -0.43 and 0.14 on a rolling one-year basis. One caveat on sizing: BKNG is 1.8 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.
BKNG vs ED: side by side
| BKNG (Booking Holdings) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | -9.1% | +10.2% |
| 5-year return | +127.1% | +67.5% |
| Volatility (ann.) | 29.1% | 16.5% |
| Beta vs S&P 500 | 1.11 | -0.21 |
| Max drawdown (3Y) | -33.4% | -17.4% |
| Market cap | $152.2B | $39.5B |
| P/E (trailing) | 23.2 | 17.5 |
| Dividend yield | 0.77% | 3.22% |
| Sector / category | Consumer Discretionary | Utilities |
Year-by-year returns
| Year | BKNG | ED |
|---|---|---|
| 2022 | -16.0% | +15.7% |
| 2023 | +76.0% | -1.1% |
| 2024 | +41.3% | +1.5% |
| 2025 | +8.6% | +15.1% |
| 2026 | -5.0% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKNG and ED good diversifiers for each other?
Yes. With a correlation of -0.24, BKNG and ED have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BKNG and ED?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.26 over the last year and -0.04 over 5 years.
Is ED a good diversifier for BKNG?
Yes. With a correlation of -0.24, BKNG and ED have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/bkng-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bkng-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BKNG correlations · ED correlations
