COIN vs ED: Correlation
Coinbase (COIN) and Consolidated Edison (ED) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COIN and ED?
On 3 years of weekly data the COIN/ED correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. The 5-year figure is -0.11, and annualized covariance runs at -271.7 %².
Out of 34 assets tracked against COIN, ED lands near the bottom at #31. Their recent paths diverged sharply: over the last 12 months ED outperformed by 48.5 percentage points (-38.3% for COIN against +10.2% for ED). This link changes with the market regime, having swung between -0.47 and 0.14 on a rolling one-year basis. Risk is not evenly split, since COIN carries 4.8 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.
COIN vs ED: side by side
| COIN (Coinbase) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | -38.3% | +10.2% |
| 5-year return | -27.4% | +67.5% |
| Volatility (ann.) | 80.0% | 16.5% |
| Beta vs S&P 500 | 2.66 | -0.21 |
| Max drawdown (3Y) | -66.4% | -17.4% |
| Market cap | $50.3B | $39.5B |
| P/E (trailing) | – | 17.5 |
| Dividend yield | 0.00% | 3.22% |
| Sector / category | Financials | Utilities |
Year-by-year returns
| Year | COIN | ED |
|---|---|---|
| 2022 | -86.0% | +15.7% |
| 2023 | +391.4% | -1.1% |
| 2024 | +42.8% | +1.5% |
| 2025 | -8.9% | +15.1% |
| 2026 | -15.7% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COIN 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 COIN and ED?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.28 over the last year and -0.11 over 5 years.
Is ED a good diversifier for COIN?
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?
On the −1 to +1 scale, -0.21 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/coin-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/coin-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COIN correlations · ED correlations
