COHR vs ED: Correlation
How closely do Coherent Corp. (COHR) and Consolidated Edison (ED) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHR and ED?
Across a 3-year window, the weekly returns of COHR and ED correlate at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.19) sits close to the 3-year figure. Stretching to 5 years gives -0.12, with an annualized covariance of -221.1 %².
ED is close to the least connected end of COHR's tracked universe, ranking #37 of 41. Correlation aside, the last 12 months split them widely, with COHR ahead by 215.4 points (+225.6% versus +10.2%). On a rolling one-year basis the correlation drifted between -0.40 and -0.11, a moderate band. One caveat on sizing: COHR is 3.9 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.
COHR vs ED: side by side
| COHR (Coherent Corp.) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | +225.6% | +10.2% |
| 5-year return | +368.6% | +67.5% |
| Volatility (ann.) | 65.0% | 16.5% |
| Beta vs S&P 500 | 2.76 | -0.21 |
| Max drawdown (3Y) | -54.8% | -17.4% |
| Market cap | $57.8B | $39.5B |
| P/E (trailing) | 71.4 | 17.5 |
| Dividend yield | 0.00% | 3.22% |
| Sector / category | Information Technology | Utilities |
Year-by-year returns
| Year | COHR | ED |
|---|---|---|
| 2022 | -48.6% | +15.7% |
| 2023 | +24.0% | -1.1% |
| 2024 | +117.6% | +1.5% |
| 2025 | +94.8% | +15.1% |
| 2026 | +60.0% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHR and ED good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between COHR and ED?
As of 2026-08-27, the correlation of weekly returns between COHR and ED is -0.21 over 3 years, -0.19 over 1 year and -0.12 over 5 years.
Is ED a good diversifier for COHR?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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/cohr-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cohr-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COHR correlations · ED correlations
