ED vs EMR: Correlation
Measured on weekly returns over the past three years, Consolidated Edison (ED) and Emerson Electric (EMR) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ED and EMR?
On 3 years of weekly data the ED/EMR correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.30 versus -0.17 over 3 years. The 5-year figure is 0.01, and annualized covariance runs at -81.0 %².
Within ED's tracked universe of 105 assets, EMR comes in at #29 by 3-year correlation. Over the last 12 months EMR came out ahead by 9.8 percentage points (+10.2% against +20.0%). On a rolling one-year basis the correlation drifted between -0.39 and 0.08, a moderate band. Note the risk asymmetry: EMR runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ED vs EMR: side by side
| ED (Consolidated Edison) | EMR (Emerson Electric) | |
|---|---|---|
| 1-year return | +10.2% | +20.0% |
| 5-year return | +67.5% | +65.4% |
| Volatility (ann.) | 16.5% | 28.3% |
| Beta vs S&P 500 | -0.21 | 1.29 |
| Max drawdown (3Y) | -17.4% | -29.6% |
| Market cap | $39.5B | $88.0B |
| P/E (trailing) | 17.5 | 34.5 |
| Dividend yield | 3.22% | 1.39% |
| Sector / category | Utilities | Industrials |
Year-by-year returns
| Year | ED | EMR |
|---|---|---|
| 2022 | +15.7% | +5.7% |
| 2023 | -1.1% | +3.8% |
| 2024 | +1.5% | +29.7% |
| 2025 | +15.1% | +8.9% |
| 2026 | +10.1% | +20.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ED and EMR good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between ED and EMR?
The ED/EMR correlation stands at -0.17 on a 3-year window (1 year: -0.30, 5 years: 0.01), computed from weekly returns as of 2026-08-27.
Is EMR a good diversifier for ED?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ed-vs-emr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ed-vs-emr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ED correlations · EMR correlations
