DGX vs ED: Correlation
How closely do Quest Diagnostics (DGX) and Consolidated Edison (ED) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGX and ED?
On 3 years of weekly data the DGX/ED correlation comes out at 0.41, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.61 versus 0.41 over 3 years. The 5-year figure is 0.33, and annualized covariance runs at 130.9 %².
Within DGX's tracked universe of 32 assets, ED comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DGX ahead by 28.3 points (+38.5% versus +10.2%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.10 and 0.67 over the past three years, so this pair behaves very differently depending on the market environment.
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.
DGX vs ED: side by side
| DGX (Quest Diagnostics) | ED (Consolidated Edison) | |
|---|---|---|
| 1-year return | +38.5% | +10.2% |
| 5-year return | +78.8% | +67.5% |
| Volatility (ann.) | 19.1% | 16.5% |
| Beta vs S&P 500 | 0.09 | -0.21 |
| Max drawdown (3Y) | -12.4% | -17.4% |
| Market cap | $27.0B | $39.5B |
| P/E (trailing) | 26.0 | 17.5 |
| Dividend yield | 1.36% | 3.22% |
| Sector / category | Health Care | Utilities |
Year-by-year returns
| Year | DGX | ED |
|---|---|---|
| 2022 | -7.8% | +15.7% |
| 2023 | -10.1% | -1.1% |
| 2024 | +11.8% | +1.5% |
| 2025 | +17.2% | +15.1% |
| 2026 | +42.8% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGX and ED good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DGX and ED?
As of 2026-08-27, the correlation of weekly returns between DGX and ED is 0.41 over 3 years, 0.61 over 1 year and 0.33 over 5 years.
Is ED a good diversifier for DGX?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 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/dgx-vs-ed.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dgx-vs-ed/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGX correlations · ED correlations
