COF vs ED: Correlation
How closely do Capital One (COF) and Consolidated Edison (ED) trade together? Their weekly returns over three years give a correlation of -0.14, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COF and ED?
Across a 3-year window, the weekly returns of COF and ED correlate at -0.14, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.33) than the 3-year average (-0.14). Stretching to 5 years gives -0.07, with an annualized covariance of -69.7 %².
By 3-year correlation, ED places #23 of the 29 assets tracked against COF. Over the last 12 months ED came out ahead by 12.2 percentage points (-2.0% against +10.2%). This link changes with the market regime, having swung between -0.53 and 0.27 on a rolling one-year basis. Risk is not evenly split, since COF carries 1.9 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.
COF vs ED: side by side
| COF (Capital One) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | -2.0% | +10.2% |
| 5-year return | +43.2% | +67.5% |
| Volatility (ann.) | 30.6% | 16.5% |
| Beta vs S&P 500 | 1.28 | -0.21 |
| Max drawdown (3Y) | -31.5% | -17.4% |
| Market cap | $132.9B | $39.5B |
| P/E (trailing) | 12.0 | 17.5 |
| Dividend yield | 1.38% | 3.22% |
| Sector / category | Financials | Utilities |
Year-by-year returns
| Year | COF | ED |
|---|---|---|
| 2022 | -34.6% | +15.7% |
| 2023 | +44.3% | -1.1% |
| 2024 | +38.2% | +1.5% |
| 2025 | +37.6% | +15.1% |
| 2026 | -9.6% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COF and ED good diversifiers for each other?
Yes. With a correlation of -0.14, COF and ED have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between COF and ED?
Using weekly returns as of 2026-08-27: -0.14 over 3 years, with -0.33 over the last year and -0.07 over 5 years.
Is ED a good diversifier for COF?
Yes. With a correlation of -0.14, COF and ED have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.14 mean?
On the −1 to +1 scale, -0.14 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/cof-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cof-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COF correlations · ED correlations
